ABLE account holders spend money from their accounts on a wide range of disability-related expenses, and many use their Visa® Prepaid Card to make those purchases. The IRS states that permitted expenses "include housing, education, transportation, health, prevention and wellness, employment training and support, assistive technology, and personal support services." Generally, these are expenses that help maintain or improve the health, independence, or quality of life of the person with a disability.
In this article, you'll learn what a Qualified Disability Expense (QDE) is and how to keep a record of QDE purchases made with the Card.
What counts as a QDE?
While many consider the definition of a Qualified Disability Expense to be expansive — a wide range of expenses can contribute to a person's health, independence, and quality of life — True Link does not provide accounting, tax, or legal advice. For questions about whether a specific expense qualifies as a QDE, please consult a qualified tax professional and your ABLE plan's disclosure documents.
Keep a record of QDE purchases
You can document purchases made with the Card right from your dashboard. This is optional, but it can make it easier to show what a purchase was for if you ever need to.
- Mark a transaction as a Qualified Expense. On the Transactions tab of the online dashboard, click the Review transaction button to the right of a transaction. From there, you can mark whether it was a Qualified Expense and add a note describing what was purchased.
- Attach receipts. You can upload a receipt to a transaction from the online dashboard or the True Link mobile app.
- Get it all in one report. You can request a Detailed Transaction Report that includes the notes, receipts, and Qualified Expense information you've added.
For step-by-step details, see Requesting a Detailed Transaction Report.
If you have any questions about recording purchases on the Card, please don't hesitate to contact our Customer Support team.