In IR-2018-139, the Service explained the new benefits for people with disabilities who have Achieving a Better Life Experience (ABLE) accounts. ABLE accounts are normally funded by annual gifts up to $15,000.
An ABLE account beneficiary is a person who became disabled before age 26. Funds in the ABLE account grow tax-free and may cover qualified disability-related expenses for the beneficiary. Qualified expenses include "housing, education, transportation, health, prevention and wellness, employment training and support, assistive technology and personal support services, and other...More