New ABLE Contribution Limits for 2022

The ABLE contributions limits have been posted on the IRS website. The annual ABLE contribution limit is the same limit as the annual exclusion for gifts. It increases to $16,000 effective January 1, 2022. The ABLE to Work Contribution Limits for 2022 are $12,880 for residents of the continental U.S.; for residents of Alaska $16,090 and Hawaii $14,820. The Internal Revenue Service (IRS) has published their 2022 Inflation Adjustments for 2022.