Question $49$ of $100.$

Which statement about Achieving a Better Life Experience $($ABLE$)$ accounts is TRUE?

Contributions are deductible on the federal tax return.

Each donor, and their spouse if married, may each contribute a maximum of $$7,000$ to the ABLE account of a beneficiary with no employment income.

Distributions are tax$-$free when used to pay qualified disability expenses.

They must be established before the designated beneficiary reaches age $30.$