Are distributions taxable on the ABLE Act?

Are distributions taxable on the ABLE Act?

Distributions are tax-free as long as they are used to pay qualified disability expenses that relate to the designated beneficiary’s blindness or disability and help that person maintain or improve health, independence and quality of life. For example, they can include housing, education, transportation, health, prevention and wellness, employment training and support, assistive technology and personal support services and other expenses.

 

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