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For more information: Stable Account Website
about stable accounts
about stable accounts
A STABLE Act account may be set up for the benefit of a person with a disability who became disabled prior to age 26.
Cash contributions may be made by the person with a disability and/or any other persons up to $16,000 a year.
Earnings in the STABLE Act account remain tax-free as long as distributions are made for “qualified disability expenses,”. Distributions for other purposes are taxed on the earnings, plus a 10% penalty.
eligibility for stable account
eligibility for stable account
An "eligible individual" is someone who developed their disability before the age of 26.
The individual must have been living with their disability for at least one year.
In addition, the individual must meet at least one of the following criteria
Be entitled to Supplemental Security Income (SSI)
Be entitled to Social Security Disability Insurance (SSDI)
Have a condition listed on the Social Security Administration's List of Compassionate Allowance Conditions
Be able to "self-certify" their disability and diagnosis
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