Use an Able Account for Qualified Disability Expenses: Learn How to Use an Able Account as an Alternative or Companion to a Special Needs Trust (Snt) for Disability-Related Expenses like Food, Housing, Transportation and More

The Exceptional Parent, September 2019 | Go to article overview

Use an Able Account for Qualified Disability Expenses: Learn How to Use an Able Account as an Alternative or Companion to a Special Needs Trust (Snt) for Disability-Related Expenses like Food, Housing, Transportation and More


Manage your spending without impacting your government benefits with an ABLE account. ABLE funds can pay for education, housing, transportation, employment, assistive technology and adaptive equipment, health, prevention and wellness, legal and financial services, funeral and burial, basic living expenses and more.

Be sure to keep good records of all your spending, because the IRS has the right to ask for verification for each expense. An expense is qualified if it meets all 3 requirements:

* It was incurred at a time the individual was eligible for an ABLE account.

* It relates to the disability.

* It helps to maintain or improve health, independence or quality of life.

EXAMPLES OF QUALIFIED EDUCATION EXPENSES

* School tuition--pre-school through post-secondary * School supplies * Other educational materials * Text books * Certification * Trade school * Attendant fees

EXAMPLES OF QUALIFIED HOUSING EXPENSES

Qualified housing expenses make an ABLE account different from a Special Needs Trust (SNT), since distributions to pay for housing costs are not counted as income for SSI qualifications, if spent in the month received.

* Rent * Purchase of a primary residence * Mortgage payments * Real property taxes * Utility charges

EXAMPLES OF QUALIFIED EMPLOYMENT EXPENSES

* Job-related training * Tools of the trade * Certification and licensing fees * Work-related uniforms * Job coaching * Start-up fees for entrepreneurs * Moving expenses

EXAMPLES OF ASSISTIVE TECHNOLOGY AND ADAPTIVE EQUIPMENT

* Hearing aids * Wheelchairs * Transfer devices * Walkers * Prosthesis * Screen readers, magnifiers and magnifying software * Braille * Tactile keyboards * Wearable technology * Accessibility software and computer devices * Personal emergency response system (PERS) * Alerting Devices * Memory Aids * Educational Software * Home automation * Augmentative and Alternative Communication Devices (AAC)

EXAMPLES OF QUALIFIED HEALTH, PREVENTION AND WELLNESS EXPENSES

* Health insurance * Mental health, medical, vision and dental expenses * Habilitation and rehabilitation services * Durable medical equipment * Therapy * Personal assistance * Respite care * Longterm services and supports * Nutritional management

* Communication services and devices

Non-qualified expenses: If ABLE account funds are used on non-qualified expenses, regular income taxes plus 10% additional tax on the earnings portion of those non-qualified distributions will need to be paid. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Use an Able Account for Qualified Disability Expenses: Learn How to Use an Able Account as an Alternative or Companion to a Special Needs Trust (Snt) for Disability-Related Expenses like Food, Housing, Transportation and More
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.