Examples of Qualified ABLE program in a sentence
If you have participated in a New York 529 college savings program, a rollover of some or all its assets, either contributions or earnings, to a Qualified ABLE program is not considered a nonqualified withdrawal and requires no addition to your recomputed federal AGI in computing New York AGI.
State benefits – Qualified ABLE program balances and distributions from an ABLE program account, such as Enable Alabama, could affect your eligibility for certain state benefits programs.
State benefits – Qualified ABLE program balances and distributions from an ABLE program account, such as the Enable Savings Plan, could affect your eligibility for certain state benefits programs.
In addition, amounts previously deducted for New Mexico income tax purposes will be recaptured if they are distributed from The Education Plan or Scholar’s Edge to a Qualified ABLE program, including the ABLE program offered in the State of New Mexico or to another Qualified Tuition Program not offered by the State of New Mexico (notwithstanding that such a transfer is a Qualified Withdrawal for federal tax purposes).
Amounts previously deducted for New Mexico income tax purposes will be recaptured if they are distributed from a New Mexico 529 plan account to a Qualified ABLE program, including the ABLE program offered in the State of New Mexico (notwithstanding that such a transfer is a Qualified xxxxxxxxxxxx000.xxx 20 Withdrawal for federal tax purposes).