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Level 3
April 25, 2020
Solved

ABLE account contributions

  • April 25, 2020
  • 2 replies
  • 31 views

Can the distribution of an IRA to an ABLE account contribution be considered as a non-taxable event?

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Best answer by Just-Lisa-Now-

You can roll a 529 into an ABLE account, but Im not seeing anything about rolling an IRA into an ABLE.

2 replies

Just-Lisa-Now-
Intuit Community Champion
April 25, 2020

You can roll a 529 into an ABLE account, but Im not seeing anything about rolling an IRA into an ABLE.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
itonewbie
Level 15
April 25, 2020

No, there is no exception for that.  IRA under 408 and 529/529A have different purposes and are under different subchapters of the Code.

---------------------------------------------------------------------------------Still an AllStar