Rollovers from popular Section 529 college savings plans, together with contributions made to tax-favored disability savings accounts, can’t exceed the annual contribution limit to such accounts, under rules the IRS intends to propose.
The Treasury Department and the Internal Revenue Service anticipate the rules will apply regardless of whether a Section 529 qualified tuition program, or QTP, payment is rolled over to an account under the Achieving a Better Life Experience (ABLE) program or is directly transferred from a QTP to an ABLE account, the IRS said in Notice 2018-58. In 2018, the annual ABLE contribution limit is ...
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