ABLE savings trust account definition

ABLE savings trust account means an account established pursuant to this chapter to assist
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ABLE savings trust account means an account established pursuant to this chapter to assist individuals and families to save private funds to support individuals with disabilities to maintain health, independence, and quality of life, with such account used to apply distributions for qualified disability expenses for an eligible individual, as both such terms are defined in § 529A of the Internal Revenue Code of 1986, as amended, or other applicable federal law.
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Examples of ABLE savings trust account in a sentence

  • If the contribution to an ABLE savings trust account exceeds $2,000 the remainder may be carried forward and subtracted in future taxable years until the amount has been fully deducted; however, in no event shall the amount deducted in any taxable year exceed $2,000 per ABLE savings trust account.

  • Maximum retail price maintenance agreement is guided by rule of reason.

  • Cuzick J, Sestak I, Bonanni B, et al., Selective oestrogen receptormodulators in prevention of breast cancer: An updated meta- analysis of individual participant data, Lancet, 2013;381:1827–34.

  • Upon request of either party, the court may order that such support payments be made to a special needs trust or an ABLE savings trust account as defined in § 23.1-700.

  • Under current law, if the beneficiary of an ABLE savings trust account dies, his state of residence becomes a creditor of the account and may seek payment under federal law for Medicaid benefits provided to the beneficiary while he was alive.

  • If the contribution to an ABLE savings trust account exceeds$2,000 the remainder may be carried forward and subtracted in future taxable years until the amount has been fully deducted; however, in no event shall the amount deducted in any taxable year exceed $2,000 per ABLE savings trust account.

  • A contributor who has attained age 70 is allowed a deduction for the full amount contributed to an ABLE savings trust account, less any amounts previously deducted.

  • In the event of the beneficiary's death, the survivor becomes the new beneficiary of the account if he is eligible under federal law to be a beneficiary of an ABLE savings trust account.

  • The subtraction for any income attributable to a refund would be limited to income attributable to a refund in the event of a beneficiary's death or receipt of a scholarship in the case of an ABLE savings trust account.

  • A contributor who has attained age 70 is allowed a deduction for the full amount contributed to an ABLE savings trust account, less any amounts previously deducted.199 Other - Enclose an explanation for other deductions.Line 9 - Total DeductionsAdd Lines 8a through 8c and enter on Line 9 and on Form 763, Line 14.

Related to ABLE savings trust account

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.