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Get the free 2025 Form 5498-QA. ABLE Account Contribution Information

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2A2AVOIDCORRECTEDISSUERS name, street address, city or town, state or province, country, and ZIP or foreign postal code1 ABLE contributionsOMB No. 154522622025$ 2 ABLE to ABLE Rollovers$Form 5498QA3
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How to fill out 2025 form 5498-qa able

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How to fill out 2025 form 5498-qa able

01
Gather necessary documents, including your personal identification and account information.
02
Obtain the Form 5498-QA from the IRS website or your financial institution.
03
Fill in your name, address, and taxpayer identification number (TIN) on the form.
04
Indicate the type of account you're reporting, such as an ABLE account.
05
Report the fair market value of your ABLE account as of December 31, 2025.
06
Include any required contributions made during the tax year.
07
Review the completed form for accuracy and ensure all fields are filled out.
08
Submit the form to the IRS by the specified deadline, ensuring you keep a copy for your records.

Who needs 2025 form 5498-qa able?

01
Individuals with an ABLE account who made contributions or had activity in the account during the tax year.
02
Account custodians or trustees responsible for reporting contributions and account values for ABLE accounts.
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Form 5498-QA is used to report contributions to ABLE (Achieving a Better Life Experience) accounts, which are tax-advantaged savings accounts for individuals with disabilities.
The financial institution that maintains the ABLE account is required to file Form 5498-QA to report contributions to the account.
To fill out Form 5498-QA, the filer must provide information about the account owner, contributions made to the account, and the fair market value of the account at year-end.
The purpose of Form 5498-QA is to inform the IRS and the account owner about contributions made to an ABLE account, ensuring compliance with tax regulations.
The form must report the name and address of the account owner, the account number, the contributions made during the year, and the fair market value of the account at year-end.
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