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IRS.gov Website
Instructions for Form 5329
taxmap/instr2/i5329-013.htm#en_us_publink100031611

taxmap/instr2/i5329-013.htm#TXMP7846b6c6
Part VIII—Additional Tax on Excess Contributions to ABLE Accounts(p7)

rule
If the contributions to your ABLE account for 2015 were more than is allowable, you may owe this tax. But you may be able to avoid the tax on any 2015 excess contributions (see the instructions for line 50).
taxmap/instr2/i5329-013.htm#en_us_publink100031612

taxmap/instr2/i5329-013.htm#TXMP2f62fb59
Line 50(p7)

rule
Enter the excess, if any, of the contributions to your ABLE account for 2015 over the contribution limit. The contribution limit to your ABLE account from all sources for 2015 is $14,000.
Do not include ABLE rollovers or program-to-program transfers in figuring your excess contributions.
You will not incur an additional tax on a contribution to your ABLE account that is in excess of the contribution limit if the qualified ABLE program returns the contribution, including all net income attributable to the contribution, to the person who made the contribution (the contributor), and the contributor receives the contribution on or before the due date (excluding extensions) for filing your Federal income tax return.
If the contributor receives the contribution after you have filed your original tax return but before the due date (including extensions) for filing your return, you may file an amended return reflecting the return of the contribution to the contributor with Filed pursuant to section 301-9100-2 written at the top. Make any necessary changes on the amended return. For example, if you reported the contribution as excess contributions on your original return, include an amended Form 5329 reflecting that the withdrawn contributions are no longer treated as having been contributed.