ABLE Accounts in 2019

January 1, 2019

If you have an ABLE account and you work, you can put up to an extra $12,140 of your earnings into your account, on top of the regular $15,000 that is allowed.

This means that if you earn $12,140 or more, you could have a total of up to $27,140 go into your ABLE account in a year. (If you earn less than $12,140, the amount you could contribute would be lower.)

  • The $12,140 must be from your own earnings – it cannot be from others or money you get from benefits or other unearned income.
  • If you have an account, you have to make sure that too much money isn’t contributed into your account (even if it is other people making the deposits). Check with your ABLE program if you have questions about this.

You may also qualify for the Saver’s Credit, which can lower your taxes.

Learn more about ABLE accounts on DB101.