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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; and
  • That meets the other requirements of section 529A.

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 in the upper left-hand corner, then click Federal.
  2. Click Other Income in the Federal Quick Q&A Topics menu to expand, then click Distributions from ABLE Accounts (Form 1099-QA).
  3. Click + Add Form 1099-QA to create a new copy of the form or click Edit to review a form already created.
  4. Continue with the interview process to enter all of the appropriate information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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