ABLE Accounts

  1. What are ABLE savings plans?
  2. Who is an eligible individual who may open an ABLE account?
  3. Who is considered the owner of the account?
  4. Are ABLE accounts available in Wisconsin
  5. Who may claim a subtraction for contributions to an ABLE account?
  6. How much can be contributed to an ABLE account in a year?
  7. Is there a penalty if the maximum contribution is exceeded?
  8. Do I need to pay tax on distributions from an ABLE account?
  9. What are qualified disability expenses?
  10. May I claim medical expenses, paid with funds withdrawn from an ABLE account, for the itemized deduction credit?
  11. Where can I get more information on ABLE accounts?

FOR MORE INFORMATION PLEASE CONTACT:

WISCONSIN DEPARTMENT OF REVENUE
Customer Service Bureau
PO Box 8949
Madison, WI 53708-8949
Phone: (608) 266-2486
Email: DORIncome@wisconsin.gov

October 19, 2018