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2020 Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12I - DISABILITIES EXPENSES SAVINGS PLAN TRUST
Section 12I.8 - Tax considerations.
Universal Citation: IA Code § 12I.8 (2020)
12I.8 Tax considerations.
1. For federal income tax purposes, the Iowa ABLE savings plan trust shall be considered a qualified ABLE program exempt from taxation pursuant to section 529A of the Internal Revenue Code and shall be operated so that it meets the requirements of section 529A of the Internal Revenue Code.
2. State income tax treatment of the Iowa ABLE savings plan trust shall be as provided in section 422.7, subsections 34 and 34A.
3. State inheritance tax treatment of interests in Iowa ABLE savings plans shall be as provided in section 450.4, subsection 9.
2015 Acts, ch 137, §83, 162, 163
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