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Per IRS Instructions for Forms 1099-QA and 5498-QA, page 1:

Qualified ABLE program

A qualified ABLE program is a program established and maintained by a state, or agency, or instrumentality of a state:

  • Under which an ABLE account may be established for a blind or disabled individual whose blindness or disability occurred before age 26 (an "eligible individual"), who is the owner and designated beneficiary of the account;
  • Which permits contributions to such ABLE account to pay for the qualified disability expenses of the account’s designated beneficiary;
  • Which limits a designated beneficiary to one ABLE account.
  • That meets the other requirements of section 529A.

The Form 1099-QA, Distribution from ABLE Accounts, should be sent to you by January 31, if you received a distribution from an ABLE Account. You may also receive Form 5498-QA, ABLE Account Contribution Information.  This form is not required to be reported on your return.

To enter data from your Form 1099-QA:

  1. From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Other Income in the Federal Quick Q&A Topics menu to expand that category, then click Distributions from ABLE Accounts (Form 1099-QA)
  3. Click +Add Form 1099-QA to create a new copy of the form or Review to review an existing form
  4. The program will proceed with the interview questions for you to enter or review the appropriate information

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