Contribute up to $17,000 to an IL ABLE Account
Starting January 1, 2023, the Annual Contribution Limit for ABLE accounts increased to $17,000 from the previous limit of $16,000. This amount includes contributions for all sources including Account Owners, family members, friends and other third parties. Anyone can contribute to an IL ABLE Account, as long as total contributions do not exceed $17,000 per year.
Read More “The IRS Raises Annual Contribution Limit for ABLE Accounts”
