![]() ![]() Total annual contributions are limited to the annual federal gift tax exclusion amount, which is $15,000 in 2019. To be eligible, an account owner must be blind or disabled according to Social Security guidelines, and the disability must have occurred before the person reached age 26. If the eligible individual is a minor or does not have the mental capacity to enter into a contract, an authorized individual such as a parent may open the account. The owner of the account and the beneficiary must be the same individual, who must also be the individual with a disability whose disability expenses are to be paid from the account. Only one account is allowed per individual. These key provisions are essential to understanding how ABLE accounts work: ![]()
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