FAA4.H Unearned Income (UNIN UNIC) : 03 Types of Unearned Income - Overview : HHH Achieving a Better Life Experience (ABLE) Savings Accounts
Achieving a Better Life Experience (ABLE) Savings Accounts
(01/01/21 - 12/31/21)
Achieving a Better Life Experience (ABLE) savings accounts contain funds in a plan or contract that meet the requirements in Section 529A of the Internal Revenue Code of 1986. These accounts are established to provide funding for disability related expenses. AZ ABLE is Arizona’s ABLE plan, other states may have a different name. Arizona has partnered with the Ohio Treasurer’s Office to offer STABLE Accounts to qualified beneficiaries.
The following are ways to identify an ABLE account:
All ABLE accounts have the word “ABLE” in the title.
The ABLE National Resource Center website, http://www.ablenrc.org has a list of other state ABLE accounts.
Funds deposited into or withdrawn from these accounts are not countable.
Key the OX Unearned Income Code in the INC TYPE field on UNIC.
For treatment as a resource, (See Savings Accounts)