TaxBandits Knowledge Base

What is Form 1099-QA?

?Form 1099-QA, ‘Distributions from ABLE Accounts,’ is a tax form used to report distributions (withdrawals) from Achieving a Better Life Experience (ABLE) accounts. 

ABLE accounts are tax-advantaged savings accounts created to help individuals with disabilities and their families save for disability-related expenses without affecting eligibility for government benefits, such as Supplemental Security Income (SSI) and Medicaid. These accounts were established under the Achieving a Better Life Experience (ABLE) Act of 2014.