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F
Fareed
Level 2
April 23, 2020
Question

ABLE aCCOUNT CONTRIBUTION

  • April 23, 2020
  • 3 replies
  • 14 views

Where to enter Able account contribution in proies professional

 

This topic has been closed for replies.

3 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 23, 2020

Im not familiar with these, but when I hit the green WHERE DO I ENTER button and type in ABLE contribution, Form 8880 pops up and has a space for it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
F
FareedAuthor
Level 2
April 23, 2020

Thank you. I also found the same. 

Howere, were do we enter Distribution form Able account

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 23, 2020

again, Im not familiar with this type of account, a quick search of the IRS website shows that they work similar to a 529 and as long as the money was used for qualified disability expenses, none of it (including the earnings in the account) is taxable...what type of reporting form did they provide you with?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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