Our study estimates the odds of older adults developing limitations in activities of daily living (ADL) and instrumental activities of daily living (IADL) after a fall and examines additional factors for developing ADL/IADL limitations. We used 2015-2020 Medicare Current Beneficiary Survey data and calculated crude and adjusted odds ratios of developing ADLs/IADLs with 95% confidence intervals (CI), adjusting for demographic and health variables. Older adults who fell had twice the odds of developing ADL (OR = 2.02; CI:1.70-2.39) or IADL (OR = 2.46; CI:2.11-2.87) limitations in the year following the fall compared with those who did not fall. Among those who fell, adjusted ORs for developing ADL or IADL limitations were significantly higher for adults aged 75+ compared with those 65-74, and for adults with 2 or more chronic conditions compared to those with less than 2 chronic conditions. Adjusted ORs were lower for adults who engaged in moderate or vigorous physical activity compared with those who did not. Although the likelihood of developing limitations after a fall may increase with age, engaging in physical activity or other preventive measures may be protective.