Skip to main content
Level 1
December 22, 2021

Long Term Disability & ABLE account

  • December 22, 2021
  • 1 reply
  • 7 views

Qualified disabled persons can contribute up to $15,000 in an ABLE account, and an additional $12,760 if that person has employment income. If that person receives long term disability payments from an employer plan, can he/she use those payments to contribute towards the additional $12,760?

    This topic has been closed for replies.

    1 reply

    qbteachmt
    Level 15
    December 22, 2021

    Once you get money for any reason, that is your money, to use however you want or need. You are not necessarily using those same payments. Once you have it under your control, it's part of your money for whatever purposes.

    The payments you describe don't count as employment income. Is that your real question?

    Don't yell at us; we're volunteers