California AB984 would allow a tax deduction for contributions to CalABLE accounts for taxable years between 2026 and 2030.
California AB984 modifies the Internal Revenue Code to allow a tax deduction for contributions to CalABLE accounts, which are designed to help people with disabilities and their families prepare for the future. This deduction applies to taxable years starting after 2025 and before 2031. The Franchise Tax Board must report on the amount of these deductions and related findings by January 1, 2031. This act is set to be repealed by December 1, 2031.
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