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Turbo Tax Filing 2012

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Turbo Tax Filing 2012

Turbo tax filing 2012 Publication 969 - Main Content Table of Contents Health Savings Accounts (HSAs)Qualifying for an HSA Contributions to an HSA Distributions From an HSA Balance in an HSA Death of HSA Holder Filing Form 8889 Employer Participation Medical Savings Accounts (MSAs)Archer MSAs Contributions to an MSA Distributions From an MSA Balance in an Archer MSA Death of the Archer MSA Holder Filing Form 8853 Employer Participation Medicare Advantage MSAs Flexible Spending Arrangements (FSAs)Qualifying for an FSA Contributions to an FSA Distributions From an FSA Balance in an FSA Employer Participation Health Reimbursement Arrangements (HRAs)Qualifying for an HRA Contributions to an HRA Distributions From an HRA Balance in an HRA Employer Participation How To Get Tax HelpLow Income Taxpayer Clinics Health Savings Accounts (HSAs) A health savings account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. Turbo tax filing 2012 You must be an eligible individual to qualify for an HSA. Turbo tax filing 2012 No permission or authorization from the IRS is necessary to establish an HSA. Turbo tax filing 2012 You set up an HSA with a trustee. Turbo tax filing 2012 A qualified HSA trustee can be a bank, an insurance company, or anyone already approved by the IRS to be a trustee of individual retirement arrangements (IRAs) or Archer MSAs. Turbo tax filing 2012 The HSA can be established through a trustee that is different from your health plan provider. Turbo tax filing 2012 Your employer may already have some information on HSA trustees in your area. Turbo tax filing 2012 If you have an Archer MSA, you can generally roll it over into an HSA tax free. Turbo tax filing 2012 See Rollovers, later. Turbo tax filing 2012 What are the benefits of an HSA?   You may enjoy several benefits from having an HSA. Turbo tax filing 2012 You can claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you do not itemize your deductions on Form 1040. Turbo tax filing 2012 Contributions to your HSA made by your employer (including contributions made through a cafeteria plan) may be excluded from your gross income. Turbo tax filing 2012 The contributions remain in your account until you use them. Turbo tax filing 2012 The interest or other earnings on the assets in the account are tax free. Turbo tax filing 2012 Distributions may be tax free if you pay qualified medical expenses. Turbo tax filing 2012 See Qualified medical expenses , later. Turbo tax filing 2012 An HSA is “portable. Turbo tax filing 2012 ” It stays with you if you change employers or leave the work force. Turbo tax filing 2012 Qualifying for an HSA To be an eligible individual and qualify for an HSA, you must meet the following requirements. Turbo tax filing 2012 You must be covered under a high deductible health plan (HDHP), described later, on the first day of the month. Turbo tax filing 2012 You have no other health coverage except what is permitted under Other health coverage , later. Turbo tax filing 2012 You are not enrolled in Medicare. Turbo tax filing 2012 You cannot be claimed as a dependent on someone else's 2013 tax return. Turbo tax filing 2012 Under the last-month rule, you are considered to be an eligible individual for the entire year if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers). Turbo tax filing 2012 If you meet these requirements, you are an eligible individual even if your spouse has non-HDHP family coverage, provided your spouse's coverage does not cover you. Turbo tax filing 2012 If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an HSA contribution. Turbo tax filing 2012 This is true even if the other person does not actually claim your exemption. Turbo tax filing 2012 Each spouse who is an eligible individual who wants an HSA must open a separate HSA. Turbo tax filing 2012 You cannot have a joint HSA. Turbo tax filing 2012 High deductible health plan (HDHP). Turbo tax filing 2012   An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Turbo tax filing 2012 Out-of-pocket expenses include copayments and other amounts, but do not include premiums. Turbo tax filing 2012   An HDHP may provide preventive care benefits without a deductible or with a deductible less than the minimum annual deductible. Turbo tax filing 2012 Preventive care includes, but is not limited to, the following. Turbo tax filing 2012 Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations, such as annual physicals. Turbo tax filing 2012 Routine prenatal and well-child care. Turbo tax filing 2012 Child and adult immunizations. Turbo tax filing 2012 Tobacco cessation programs. Turbo tax filing 2012 Obesity weight-loss programs. Turbo tax filing 2012 Screening services. Turbo tax filing 2012 This includes screening services for the following: Cancer. Turbo tax filing 2012 Heart and vascular diseases. Turbo tax filing 2012 Infectious diseases. Turbo tax filing 2012 Mental health conditions. Turbo tax filing 2012 Substance abuse. Turbo tax filing 2012 Metabolic, nutritional, and endocrine conditions. Turbo tax filing 2012 Musculoskeletal disorders. Turbo tax filing 2012 Obstetric and gynecological conditions. Turbo tax filing 2012 Pediatric conditions. Turbo tax filing 2012 Vision and hearing disorders. Turbo tax filing 2012 For more information on screening services, see Notice 2004-23, 2004-15 I. Turbo tax filing 2012 R. Turbo tax filing 2012 B. Turbo tax filing 2012 725 available at www. Turbo tax filing 2012 irs. Turbo tax filing 2012 gov/irb/2004-15_IRB/ar10. Turbo tax filing 2012 html. Turbo tax filing 2012     The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2013. Turbo tax filing 2012      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,250 $12,500 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Turbo tax filing 2012 Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Turbo tax filing 2012    The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2014. Turbo tax filing 2012      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,350 $12,700 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Turbo tax filing 2012 Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Turbo tax filing 2012   Self-only HDHP coverage is an HDHP covering only an eligible individual. Turbo tax filing 2012 Family HDHP coverage is an HDHP covering an eligible individual and at least one other individual (whether or not that individual is an eligible individual). Turbo tax filing 2012 Example. Turbo tax filing 2012 An eligible individual and his dependent child are covered under an “employee plus one” HDHP offered by the individual's employer. Turbo tax filing 2012 This is family HDHP coverage. Turbo tax filing 2012 Family plans that do not meet the high deductible rules. Turbo tax filing 2012   There are some family plans that have deductibles for both the family as a whole and for individual family members. Turbo tax filing 2012 Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Turbo tax filing 2012 If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Turbo tax filing 2012 Example. Turbo tax filing 2012 You have family health insurance coverage in 2013. Turbo tax filing 2012 The annual deductible for the family plan is $3,500. Turbo tax filing 2012 This plan also has an individual deductible of $1,500 for each family member. Turbo tax filing 2012 The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($2,500) for family coverage. Turbo tax filing 2012 Other health coverage. Turbo tax filing 2012   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Turbo tax filing 2012 However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Turbo tax filing 2012    You can have additional insurance that provides benefits only for the following items. Turbo tax filing 2012 Liabilities incurred under workers' compensation laws, tort liabilities, or liabilities related to ownership or use of property. Turbo tax filing 2012 A specific disease or illness. Turbo tax filing 2012 A fixed amount per day (or other period) of hospitalization. Turbo tax filing 2012   You can also have coverage (whether provided through insurance or otherwise) for the following items. Turbo tax filing 2012 Accidents. Turbo tax filing 2012 Disability. Turbo tax filing 2012 Dental care. Turbo tax filing 2012 Vision care. Turbo tax filing 2012 Long-term care. Turbo tax filing 2012    Plans in which substantially all of the coverage is through the items listed earlier are not HDHPs. Turbo tax filing 2012 For example, if your plan provides coverage substantially all of which is for a specific disease or illness, the plan is not an HDHP for purposes of establishing an HSA. Turbo tax filing 2012 Prescription drug plans. Turbo tax filing 2012   You can have a prescription drug plan, either as part of your HDHP or a separate plan (or rider), and qualify as an eligible individual if the plan does not provide benefits until the minimum annual deductible of the HDHP has been met. Turbo tax filing 2012 If you can receive benefits before that deductible is met, you are not an eligible individual. Turbo tax filing 2012 Other employee health plans. Turbo tax filing 2012   An employee covered by an HDHP and a health FSA or an HRA that pays or reimburses qualified medical expenses generally cannot make contributions to an HSA. Turbo tax filing 2012 Health FSAs and HRAs are discussed later. Turbo tax filing 2012   However, an employee can make contributions to an HSA while covered under an HDHP and one or more of the following arrangements. Turbo tax filing 2012 Limited-purpose health FSA or HRA. Turbo tax filing 2012 These arrangements can pay or reimburse the items listed earlier under Other health coverage except long-term care. Turbo tax filing 2012 Also, these arrangements can pay or reimburse preventive care expenses because they can be paid without having to satisfy the deductible. Turbo tax filing 2012 Suspended HRA. Turbo tax filing 2012 Before the beginning of an HRA coverage period, you can elect to suspend the HRA. Turbo tax filing 2012 The HRA does not pay or reimburse, at any time, the medical expenses incurred during the suspension period except preventive care and items listed under Other health coverage. Turbo tax filing 2012 When the suspension period ends, you are no longer eligible to make contributions to an HSA. Turbo tax filing 2012 Post-deductible health FSA or HRA. Turbo tax filing 2012 These arrangements do not pay or reimburse any medical expenses incurred before the minimum annual deductible amount is met. Turbo tax filing 2012 The deductible for these arrangements does not have to be the same as the deductible for the HDHP, but benefits may not be provided before the minimum annual deductible amount is met. Turbo tax filing 2012 Retirement HRA. Turbo tax filing 2012 This arrangement pays or reimburses only those medical expenses incurred after retirement. Turbo tax filing 2012 After retirement you are no longer eligible to make contributions to an HSA. Turbo tax filing 2012 Health FSA – grace period. Turbo tax filing 2012   Coverage during a grace period by a general purpose health FSA is allowed if the balance in the health FSA at the end of its prior year plan is zero. Turbo tax filing 2012 See Flexible Spending Arrangements (FSAs) , later. Turbo tax filing 2012 Contributions to an HSA Any eligible individual can contribute to an HSA. Turbo tax filing 2012 For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. Turbo tax filing 2012 For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Turbo tax filing 2012 Family members or any other person may also make contributions on behalf of an eligible individual. Turbo tax filing 2012 Contributions to an HSA must be made in cash. Turbo tax filing 2012 Contributions of stock or property are not allowed. Turbo tax filing 2012 Limit on Contributions The amount you or any other person can contribute to your HSA depends on the type of HDHP coverage you have, your age, the date you become an eligible individual, and the date you cease to be an eligible individual. Turbo tax filing 2012 For 2013, if you have self-only HDHP coverage, you can contribute up to $3,250. Turbo tax filing 2012 If you have family HDHP coverage, you can contribute up to $6,450. Turbo tax filing 2012 For 2014, if you have self-only HDHP coverage, you can contribute up to $3,300. Turbo tax filing 2012 If you have family HDHP coverage you can contribute up to $6,550. Turbo tax filing 2012 If you were, or were considered (under the last-month rule, discussed later), an eligible individual for the entire year and did not change your type of coverage, you can contribute the full amount based on your type of coverage. Turbo tax filing 2012 However, if you were not an eligible individual for the entire year or changed your coverage during the year, your contribution limit is the greater of: The limitation shown on the Line 3 Limitation Chart and Worksheetin the Instructions for Form 8889, Health Savings Accounts (HSAs), or The maximum annual HSA contribution based on your HDHP coverage (self-only or family) on the first day of the last month of your tax year. Turbo tax filing 2012 If you had family HDHP coverage on the first day of the last month of your tax year, your contribution limit for 2013 is $6,450 even if you changed coverage during the year. Turbo tax filing 2012 Last-month rule. Turbo tax filing 2012   Under the last-month rule, if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers), you are considered an eligible individual for the entire year. Turbo tax filing 2012 You are treated as having the same HDHP coverage for the entire year as you had on the first day of the last month. Turbo tax filing 2012 Testing period. Turbo tax filing 2012   If contributions were made to your HSA based on you being an eligible individual for the entire year under the last-month rule, you must remain an eligible individual during the testing period. Turbo tax filing 2012 For the last-month rule, the testing period begins with the last month of your tax year and ends on the last day of the 12th month following that month. Turbo tax filing 2012 For example, December 1, 2013, through December 31, 2014. Turbo tax filing 2012   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the total contributions made to your HSA that would not have been made except for the last-month rule. Turbo tax filing 2012 You include this amount in your income in the year in which you fail to be an eligible individual. Turbo tax filing 2012 This amount is also subject to a 10% additional tax. Turbo tax filing 2012 The income and additional tax are shown on Form 8889, Part III. Turbo tax filing 2012 Example 1. Turbo tax filing 2012 Chris, age 53, becomes an eligible individual on December 1, 2013. Turbo tax filing 2012 He has family HDHP coverage on that date. Turbo tax filing 2012 Under the last-month rule, he contributes $6,450 to his HSA. Turbo tax filing 2012 Chris fails to be an eligible individual in June 2014. Turbo tax filing 2012 Because Chris did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), he must include in his 2014 income the contributions made in 2013 that would not have been made except for the last-month rule. Turbo tax filing 2012 Chris uses the worksheet in the Form 8889 instructions to determine this amount. Turbo tax filing 2012 January -0- February -0- March -0- April -0- May -0- June -0- July -0- August -0- September -0- October -0- November -0- December $6,450. Turbo tax filing 2012 00 Total for all months $6,450. Turbo tax filing 2012 00 Limitation. Turbo tax filing 2012 Divide the total by 12 $537. Turbo tax filing 2012 50 Chris would include $5,912. Turbo tax filing 2012 50 ($6,450. Turbo tax filing 2012 00 – $537. Turbo tax filing 2012 50) in his gross income on his 2014 tax return. Turbo tax filing 2012 Also, a 10% additional tax applies to this amount. Turbo tax filing 2012 Example 2. Turbo tax filing 2012 Erika, age 39, has self-only HDHP coverage on January 1, 2013. Turbo tax filing 2012 Erika changes to family HDHP coverage on November 1, 2013. Turbo tax filing 2012 Because Erika has family HDHP coverage on December 1, 2013, she contributes $6,450 for 2013. Turbo tax filing 2012 Erika fails to be an eligible individual in March 2014. Turbo tax filing 2012 Because she did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), she must include in income the contribution made that would not have been made except for the last-month rule. Turbo tax filing 2012 Erika uses the worksheet in the Form 8889 instructions to determine this amount. Turbo tax filing 2012 January $3,250. Turbo tax filing 2012 00 February $3,250. Turbo tax filing 2012 00 March $3,250. Turbo tax filing 2012 00 April $3,250. Turbo tax filing 2012 00 May $3,250. Turbo tax filing 2012 00 June $3,250. Turbo tax filing 2012 00 July $3,250. Turbo tax filing 2012 00 August $3,250. Turbo tax filing 2012 00 September $3,250. Turbo tax filing 2012 00 October $3,250. Turbo tax filing 2012 00 November $6,450. Turbo tax filing 2012 00 December $6,450. Turbo tax filing 2012 00 Total for all months $45,400. Turbo tax filing 2012 00 Limitation. Turbo tax filing 2012 Divide the total by 12 $3,783. Turbo tax filing 2012 34 Erika would include $2,666. Turbo tax filing 2012 67 ($6,450 – $3,783. Turbo tax filing 2012 34) in her gross income on her 2014 tax return. Turbo tax filing 2012 Also, a 10% additional tax applies to this amount. Turbo tax filing 2012 Additional contribution. Turbo tax filing 2012   If you are an eligible individual who is age 55 or older at the end of your tax year, your contribution limit is increased by $1,000. Turbo tax filing 2012 For example, if you have self-only coverage, you can contribute up to $4,250 (the contribution limit for self-only coverage ($3,250) plus the additional contribution of $1,000). Turbo tax filing 2012 However, see Enrolled in Medicare , later. Turbo tax filing 2012 If you have more than one HSA in 2013, your total contributions to all the HSAs cannot be more than the limits discussed earlier. Turbo tax filing 2012 Reduction of contribution limit. Turbo tax filing 2012   You must reduce the amount that can be contributed (including any additional contribution) to your HSA by the amount of any contribution made to your Archer MSA (including employer contributions) for the year. Turbo tax filing 2012 A special rule applies to married people, discussed next, if each spouse has family coverage under an HDHP. Turbo tax filing 2012 Rules for married people. Turbo tax filing 2012   If either spouse has family HDHP coverage, both spouses are treated as having family HDHP coverage. Turbo tax filing 2012 If each spouse has family coverage under a separate plan, the contribution limit for 2013 is $6,450. Turbo tax filing 2012 You must reduce the limit on contributions, before taking into account any additional contributions, by the amount contributed to both spouses' Archer MSAs. Turbo tax filing 2012 After that reduction, the contribution limit is split equally between the spouses unless you agree on a different division. Turbo tax filing 2012 The rules for married people apply only if both spouses are eligible individuals. Turbo tax filing 2012 If both spouses are 55 or older and not enrolled in Medicare, each spouse's contribution limit is increased by the additional contribution. Turbo tax filing 2012 If both spouses meet the age requirement, the total contributions under family coverage cannot be more than $8,450. Turbo tax filing 2012 Each spouse must make the additional contribution to his or her own HSA. Turbo tax filing 2012 Example. Turbo tax filing 2012 For 2013, Mr. Turbo tax filing 2012 Auburn and his wife are both eligible individuals. Turbo tax filing 2012 They each have family coverage under separate HDHPs. Turbo tax filing 2012 Mr. Turbo tax filing 2012 Auburn is 58 years old and Mrs. Turbo tax filing 2012 Auburn is 53. Turbo tax filing 2012 Mr. Turbo tax filing 2012 and Mrs. Turbo tax filing 2012 Auburn can split the family contribution limit ($6,450) equally or they can agree on a different division. Turbo tax filing 2012 If they split it equally, Mr. Turbo tax filing 2012 Auburn can contribute $4,225 to an HSA (one-half the maximum contribution for family coverage ($3,225) + $1,000 additional contribution) and Mrs. Turbo tax filing 2012 Auburn can contribute $3,225 to an HSA. Turbo tax filing 2012 Employer contributions. Turbo tax filing 2012   You must reduce the amount you, or any other person, can contribute to your HSA by the amount of any contributions made by your employer that are excludable from your income. Turbo tax filing 2012 This includes amounts contributed to your account by your employer through a cafeteria plan. Turbo tax filing 2012 Enrolled in Medicare. Turbo tax filing 2012   Beginning with the first month you are enrolled in Medicare, your contribution limit is zero. Turbo tax filing 2012 Example. Turbo tax filing 2012 You turned age 65 in July 2013 and enrolled in Medicare. Turbo tax filing 2012 You had an HDHP with self-only coverage and are eligible for an additional contribution of $1,000. Turbo tax filing 2012 Your contribution limit is $2,125 ($4,250 × 6 ÷ 12). Turbo tax filing 2012 Qualified HSA funding distribution. Turbo tax filing 2012   A qualified HSA funding distribution may be made from your traditional IRA or Roth IRA to your HSA. Turbo tax filing 2012 This distribution cannot be made from an ongoing SEP IRA or SIMPLE IRA. Turbo tax filing 2012 For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an employer contribution is made for the plan year ending with or within your tax year in which the distribution would be made. Turbo tax filing 2012   The maximum qualified HSA funding distribution depends on the HDHP coverage (self-only or family) you have on the first day of the month in which the contribution is made and your age as of the end of the tax year. Turbo tax filing 2012 The distribution must be made directly by the trustee of the IRA to the trustee of the HSA. Turbo tax filing 2012 The distribution is not included in your income, is not deductible, and reduces the amount that can be contributed to your HSA. Turbo tax filing 2012 The qualified HSA funding distribution is shown on Form 8889 for the year in which the distribution is made. Turbo tax filing 2012   You can make only one qualified HSA funding distribution during your lifetime. Turbo tax filing 2012 However, if you make a distribution during a month when you have self-only HDHP coverage, you can make another qualified HSA funding distribution in a later month in that tax year if you change to family HDHP coverage. Turbo tax filing 2012 The total qualified HSA funding distribution cannot be more than the contribution limit for family HDHP coverage plus any additional contribution to which you are entitled. Turbo tax filing 2012 Example. Turbo tax filing 2012 In 2013, you are an eligible individual, age 57, with self-only HDHP coverage. Turbo tax filing 2012 You can make a qualified HSA funding distribution of $4,250 ($3,250 plus $1,000 additional contribution). Turbo tax filing 2012 Funding distribution – testing period. Turbo tax filing 2012   You must remain an eligible individual during the testing period. Turbo tax filing 2012 For a qualified HSA funding distribution, the testing period begins with the month in which the qualified HSA funding distribution is contributed and ends on the last day of the 12th month following that month. Turbo tax filing 2012 For example, if a qualified HSA funding distribution is contributed to your HSA on August 10, 2013, your testing period begins in August 2013, and ends on August 31, 2014. Turbo tax filing 2012   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the qualified HSA funding distribution. Turbo tax filing 2012 You include this amount in income in the year in which you fail to be an eligible individual. Turbo tax filing 2012 This amount is also subject to a 10% additional tax. Turbo tax filing 2012 The income and the additional tax are shown on Form 8889, Part III. Turbo tax filing 2012   Each qualified HSA funding distribution allowed has its own testing period. Turbo tax filing 2012 For example, you are an eligible individual, age 45, with self-only HDHP coverage. Turbo tax filing 2012 On June 18, 2013, you make a qualified HSA funding distribution of $3,250. Turbo tax filing 2012 On July 27, 2013, you enroll in family HDHP coverage and on August 17, 2013, you make a qualified HSA funding distribution of $3,200. Turbo tax filing 2012 Your testing period for the first distribution begins in June 2013 and ends on June 30, 2014. Turbo tax filing 2012 Your testing period for the second distribution begins in August 2013 and ends on August 31, 2014. Turbo tax filing 2012   The testing period rule that applies under the last-month rule (discussed earlier) does not apply to amounts contributed to an HSA through a qualified HSA funding distribution. Turbo tax filing 2012 If you remain an eligible individual during the entire funding distribution testing period, then no amount of that distribution is included in income and will not be subject to the additional tax for failing to meet the last-month rule testing period. Turbo tax filing 2012 Rollovers A rollover contribution is not included in your income, is not deductible, and does not reduce your contribution limit. Turbo tax filing 2012 Archer MSAs and other HSAs. Turbo tax filing 2012   You can roll over amounts from Archer MSAs and other HSAs into an HSA. Turbo tax filing 2012 You do not have to be an eligible individual to make a rollover contribution from your existing HSA to a new HSA. Turbo tax filing 2012 Rollover contributions do not need to be in cash. Turbo tax filing 2012 Rollovers are not subject to the annual contribution limits. Turbo tax filing 2012   You must roll over the amount within 60 days after the date of receipt. Turbo tax filing 2012 You can make only one rollover contribution to an HSA during a 1-year period. Turbo tax filing 2012 Note. Turbo tax filing 2012 If you instruct the trustee of your HSA to transfer funds directly to the trustee of another of your HSAs, the transfer is not considered a rollover. Turbo tax filing 2012 There is no limit on the number of these transfers. Turbo tax filing 2012 Do not include the amount transferred in income, deduct it as a contribution, or include it as a distribution on Form 8889. Turbo tax filing 2012 When To Contribute You can make contributions to your HSA for 2013 until April 15, 2014. Turbo tax filing 2012 If you fail to be an eligible individual during 2013, you can still make contributions, up until April 15, 2014, for the months you were an eligible individual. Turbo tax filing 2012 Your employer can make contributions to your HSA between January 1, 2014, and April 15, 2014, that are allocated to 2013. Turbo tax filing 2012 Your employer must notify you and the trustee of your HSA that the contribution is for 2013. Turbo tax filing 2012 The contribution will be reported on your 2014 Form W-2. Turbo tax filing 2012 Reporting Contributions on Your Return Contributions made by your employer are not included in your income. Turbo tax filing 2012 Contributions to an employee's account by an employer using the amount of an employee's salary reduction through a cafeteria plan are treated as employer contributions. Turbo tax filing 2012 Generally, you can claim contributions you made and contributions made by any other person, other than your employer, on your behalf, as an adjustment to income. Turbo tax filing 2012 Contributions by a partnership to a bona fide partner's HSA are not contributions by an employer. Turbo tax filing 2012 The contributions are treated as a distribution of money and are not included in the partner's gross income. Turbo tax filing 2012 Contributions by a partnership to a partner's HSA for services rendered are treated as guaranteed payments that are deductible by the partnership and includible in the partner's gross income. Turbo tax filing 2012 In both situations, the partner can deduct the contribution made to the partner's HSA. Turbo tax filing 2012 Contributions by an S corporation to a 2% shareholder-employee's HSA for services rendered are treated as guaranteed payments and are deductible by the S corporation and includible in the shareholder-employee's gross income. Turbo tax filing 2012 The shareholder-employee can deduct the contribution made to the shareholder-employee's HSA. Turbo tax filing 2012 Form 8889. Turbo tax filing 2012   Report all contributions to your HSA on Form 8889 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 You should include all contributions made for 2013, including those made by April 15, 2014, that are designated for 2013. Turbo tax filing 2012 Contributions made by your employer and qualified HSA funding distributions are also shown on the form. Turbo tax filing 2012   You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount contributed to your HSA during the year. Turbo tax filing 2012 Your employer's contributions also will be shown in box 12 of Form W-2, Wage and Tax Statement, with code W. Turbo tax filing 2012 Follow the instructions for Form 8889. Turbo tax filing 2012 Report your HSA deduction on Form 1040 or Form 1040NR. Turbo tax filing 2012 Excess contributions. Turbo tax filing 2012   You will have excess contributions if the contributions to your HSA for the year are greater than the limits discussed earlier. Turbo tax filing 2012 Excess contributions are not deductible. Turbo tax filing 2012 Excess contributions made by your employer are included in your gross income. Turbo tax filing 2012 If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Turbo tax filing 2012   Generally, you must pay a 6% excise tax on excess contributions. Turbo tax filing 2012 See Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Turbo tax filing 2012 The excise tax applies to each tax year the excess contribution remains in the account. Turbo tax filing 2012   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Turbo tax filing 2012 You withdraw the excess contributions by the due date, including extensions, of your tax return for the year the contributions were made. Turbo tax filing 2012 You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Turbo tax filing 2012 If you fail to remain an eligible individual during any of the testing periods, discussed earlier, the amount you have to include in income is not an excess contribution. Turbo tax filing 2012 If you withdraw any of those amounts, the amount is treated the same as any other distribution from an HSA, discussed later. Turbo tax filing 2012 Deducting an excess contribution in a later year. Turbo tax filing 2012   You may be able to deduct excess contributions for previous years that are still in your HSA. Turbo tax filing 2012 The excess contribution you can deduct for the current year is the lesser of the following two amounts. Turbo tax filing 2012 Your maximum HSA contribution limit for the year minus any amounts contributed to your HSA for the year. Turbo tax filing 2012 The total excess contributions in your HSA at the beginning of the year. Turbo tax filing 2012   Amounts contributed for the year include contributions by you, your employer, and any other person. Turbo tax filing 2012 They also include any qualified HSA funding distribution made to your HSA. Turbo tax filing 2012 Any excess contribution remaining at the end of a tax year is subject to the excise tax. Turbo tax filing 2012 See Form 5329. Turbo tax filing 2012 Distributions From an HSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Turbo tax filing 2012 When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your HSA to send you a distribution from your HSA. Turbo tax filing 2012 You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. Turbo tax filing 2012 If you receive distributions for other reasons, the amount you withdraw will be subject to income tax and may be subject to an additional 20% tax. Turbo tax filing 2012 You do not have to make distributions from your HSA each year. Turbo tax filing 2012 If you are no longer an eligible individual, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Turbo tax filing 2012 Generally, a distribution is money you get from your health savings account. Turbo tax filing 2012 Your total distributions include amounts paid with a debit card that restricts payments to health care and amounts withdrawn from the HSA by other individuals that you have designated. Turbo tax filing 2012 The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Turbo tax filing 2012 Qualified medical expenses. Turbo tax filing 2012   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Turbo tax filing 2012 These are explained in Publication 502, Medical and Dental Expenses. Turbo tax filing 2012   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for HSA purposes. Turbo tax filing 2012 A medicine or drug will be a qualified medical expense for HSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Turbo tax filing 2012   For HSA purposes, expenses incurred before you establish your HSA are not qualified medical expenses. Turbo tax filing 2012 State law determines when an HSA is established. Turbo tax filing 2012 An HSA that is funded by amounts rolled over from an Archer MSA or another HSA is established on the date the prior account was established. Turbo tax filing 2012   If, under the last-month rule, you are considered to be an eligible individual for the entire year for determining the contribution amount, only those expenses incurred after you actually establish your HSA are qualified medical expenses. Turbo tax filing 2012   Qualified medical expenses are those incurred by the following persons. Turbo tax filing 2012 You and your spouse. Turbo tax filing 2012 All dependents you claim on your tax return. Turbo tax filing 2012 Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Turbo tax filing 2012    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Turbo tax filing 2012 You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your HSA. Turbo tax filing 2012 Insurance premiums. Turbo tax filing 2012   You cannot treat insurance premiums as qualified medical expenses unless the premiums are for: Long-term care insurance. Turbo tax filing 2012 Health care continuation coverage (such as coverage under COBRA). Turbo tax filing 2012 Health care coverage while receiving unemployment compensation under federal or state law. Turbo tax filing 2012 Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap). Turbo tax filing 2012   The premiums for long-term care insurance (item (1)) that you can treat as qualified medical expenses are subject to limits based on age and are adjusted annually. Turbo tax filing 2012 See Limit on long-term care premiums you can deduct in the instructions for Schedule A (Form 1040). Turbo tax filing 2012   Items (2) and (3) can be for your spouse or a dependent meeting the requirement for that type of coverage. Turbo tax filing 2012 For item (4), if you, the account beneficiary, are not 65 or older, Medicare premiums for coverage of your spouse or a dependent (who is 65 or older) generally are not qualified medical expenses. Turbo tax filing 2012 Health coverage tax credit. Turbo tax filing 2012   You cannot claim this credit for premiums that you pay with a tax-free distribution from your HSA. Turbo tax filing 2012 See Publication 502 for more information on this credit. Turbo tax filing 2012 Deemed distributions from HSAs. Turbo tax filing 2012   The following situations result in deemed taxable distributions from your HSA. Turbo tax filing 2012 You engaged in any transaction prohibited by section 4975 with respect to any of your HSAs, at any time in 2013. Turbo tax filing 2012 Your account ceases to be an HSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8889. Turbo tax filing 2012 You used any portion of any of your HSAs as security for a loan at any time in 2013. Turbo tax filing 2012 You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Turbo tax filing 2012   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the HSA, Lending of money between you and the HSA, Furnishing goods, services, or facilities between you and the HSA, and Transfer to or use by you, or for your benefit, of any assets of the HSA. Turbo tax filing 2012   Any deemed distribution will not be treated as used to pay qualified medical expenses. Turbo tax filing 2012 These distributions are included in your income and are subject to the additional 20% tax, discussed later. Turbo tax filing 2012 Recordkeeping. Turbo tax filing 2012 You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Turbo tax filing 2012 Do not send these records with your tax return. Turbo tax filing 2012 Keep them with your tax records. Turbo tax filing 2012 Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Turbo tax filing 2012 If you use a distribution from your HSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8889. Turbo tax filing 2012 However, the distribution of an excess contribution taken out after the due date, including extensions, of your return is subject to tax even if used for qualified medical expenses. Turbo tax filing 2012 Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 If you do not use a distribution from your HSA for qualified medical expenses, you must pay tax on the distribution. Turbo tax filing 2012 Report the amount on Form 8889 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 You may have to pay an additional 20% tax on your taxable distribution. Turbo tax filing 2012 HSA administration and maintenance fees withdrawn by the trustee are not reported as distributions from the HSA. Turbo tax filing 2012 Additional tax. Turbo tax filing 2012   There is an additional 20% tax on the part of your distributions not used for qualified medical expenses. Turbo tax filing 2012 Figure the tax on Form 8889 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 Exceptions. Turbo tax filing 2012   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Turbo tax filing 2012 Balance in an HSA An HSA is generally exempt from tax. Turbo tax filing 2012 You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Turbo tax filing 2012 Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Turbo tax filing 2012 Earnings on amounts in an HSA are not included in your income while held in the HSA. Turbo tax filing 2012 Death of HSA Holder You should choose a beneficiary when you set up your HSA. Turbo tax filing 2012 What happens to that HSA when you die depends on whom you designate as the beneficiary. Turbo tax filing 2012 Spouse is the designated beneficiary. Turbo tax filing 2012   If your spouse is the designated beneficiary of your HSA, it will be treated as your spouse's HSA after your death. Turbo tax filing 2012 Spouse is not the designated beneficiary. Turbo tax filing 2012   If your spouse is not the designated beneficiary of your HSA: The account stops being an HSA, and The fair market value of the HSA becomes taxable to the beneficiary in the year in which you die. Turbo tax filing 2012 If your estate is the beneficiary, the value is included on your final income tax return. Turbo tax filing 2012 The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Turbo tax filing 2012 Filing Form 8889 You must file Form 8889 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your HSA during the year. Turbo tax filing 2012 You must file the form even if only your employer or your spouse's employer made contributions to the HSA. Turbo tax filing 2012 If, during the tax year, you are the beneficiary of two or more HSAs or you are a beneficiary of an HSA and you have your own HSA, you must complete a separate Form 8889 for each HSA. Turbo tax filing 2012 Enter “statement” at the top of each Form 8889 and complete the form as instructed. Turbo tax filing 2012 Next, complete a controlling Form 8889 combining the amounts shown on each of the statement Forms 8889. Turbo tax filing 2012 Attach the statements to your tax return after the controlling Form 8889. Turbo tax filing 2012 Employer Participation This section contains the rules that employers must follow if they decide to make HSAs available to their employees. Turbo tax filing 2012 Unlike the previous discussions, “you” refers to the employer and not to the employee. Turbo tax filing 2012 Health plan. Turbo tax filing 2012   If you want your employees to be able to have an HSA, they must have an HDHP. Turbo tax filing 2012 You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Turbo tax filing 2012 Contributions. Turbo tax filing 2012   You can make contributions to your employees' HSAs. Turbo tax filing 2012 You deduct the contributions on your business income tax return for the year in which you make the contributions. Turbo tax filing 2012 If the contribution is allocated to the prior year, you still deduct it in the year in which you made the contribution. Turbo tax filing 2012   For more information on employer contributions, see Notice 2008-59, 2008-29 I. Turbo tax filing 2012 R. Turbo tax filing 2012 B. Turbo tax filing 2012 123, questions 23 through 27, available at www. Turbo tax filing 2012 irs. Turbo tax filing 2012 gov/irb/2008-29_IRB/ar11. Turbo tax filing 2012 html. Turbo tax filing 2012 Comparable contributions. Turbo tax filing 2012   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' HSAs. Turbo tax filing 2012 Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Turbo tax filing 2012 The comparability rules do not apply to contributions made through a cafeteria plan. Turbo tax filing 2012 Comparable participating employees. Turbo tax filing 2012   Comparable participating employees: Are covered by your HDHP and are eligible to establish an HSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (part-time, full-time, or former employees). Turbo tax filing 2012   To meet the comparability requirements for eligible employees who have not established an HSA by December 31 or have not notified you that they have an HSA, you must meet a notice requirement and a contribution requirement. Turbo tax filing 2012   You will meet the notice requirement if by January 15 of the following calendar year you provide a written notice to all such employees. Turbo tax filing 2012 The notice must state that each eligible employee who, by the last day of February, establishes an HSA and notifies you that they have established an HSA will receive a comparable contribution to the HSA for the prior year. Turbo tax filing 2012 For a sample of the notice, see Regulation 54. Turbo tax filing 2012 4980G-4 A-14(c). Turbo tax filing 2012 You will meet the contribution requirement for these employees if by April 15, 2014, you contribute comparable amounts plus reasonable interest to the employee's HSA for the prior year. Turbo tax filing 2012 Note. Turbo tax filing 2012 For purposes of making contributions to HSAs of non-highly compensated employees, highly compensated employees shall not be treated as comparable participating employees. Turbo tax filing 2012 Excise tax. Turbo tax filing 2012   If you made contributions to your employees' HSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Turbo tax filing 2012 Employment taxes. Turbo tax filing 2012   Amounts you contribute to your employees' HSAs are generally not subject to employment taxes. Turbo tax filing 2012 You must report the contributions in box 12 of the Form W-2 you file for each employee. Turbo tax filing 2012 This includes the amounts the employee elected to contribute through a cafeteria plan. Turbo tax filing 2012 Enter code “W” in box 12. Turbo tax filing 2012 Medical Savings Accounts (MSAs) Archer MSAs were created to help self-employed individuals and employees of certain small employers meet the medical care costs of the account holder, the account holder's spouse, or the account holder's dependent(s). Turbo tax filing 2012 After December 31, 2007, you cannot be treated as an eligible individual for Archer MSA purposes unless: You were an active participant for any tax year ending before January 1, 2008, or You became an active participant for a tax year ending after December 31, 2007, by reason of coverage under a high deductible health plan (HDHP) of an Archer MSA participating employer. Turbo tax filing 2012 A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder who is eligible for Medicare. Turbo tax filing 2012 Archer MSAs An Archer MSA is a tax-exempt trust or custodial account that you set up with a U. Turbo tax filing 2012 S. Turbo tax filing 2012 financial institution (such as a bank or an insurance company) in which you can save money exclusively for future medical expenses. Turbo tax filing 2012 What are the benefits of an Archer MSA?   You may enjoy several benefits from having an Archer MSA. Turbo tax filing 2012 You can claim a tax deduction for contributions you make even if you do not itemize your deductions on Form 1040 or Form 1040NR. Turbo tax filing 2012 The interest or other earnings on the assets in your Archer MSA are tax free. Turbo tax filing 2012 Distributions may be tax free if you pay qualified medical expenses. Turbo tax filing 2012 See Qualified medical expenses , later. Turbo tax filing 2012 The contributions remain in your Archer MSA from year to year until you use them. Turbo tax filing 2012 An Archer MSA is “portable” so it stays with you if you change employers or leave the work force. Turbo tax filing 2012 Qualifying for an Archer MSA To qualify for an Archer MSA, you must be either of the following. Turbo tax filing 2012 An employee (or the spouse of an employee) of a small employer (defined later) that maintains a self-only or family HDHP for you (or your spouse). Turbo tax filing 2012 A self-employed person (or the spouse of a self-employed person) who maintains a self-only or family HDHP. Turbo tax filing 2012 You can have no other health or Medicare coverage except what is permitted under Other health coverage , later. Turbo tax filing 2012 You must be an eligible individual on the first day of a given month to get an Archer MSA deduction for that month. Turbo tax filing 2012 If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an Archer MSA contribution. Turbo tax filing 2012 This is true even if the other person does not actually claim your exemption. Turbo tax filing 2012 Small employer. Turbo tax filing 2012   A small employer is generally an employer who had an average of 50 or fewer employees during either of the last 2 calendar years. Turbo tax filing 2012 The definition of small employer is modified for new employers and growing employers. Turbo tax filing 2012 Growing employer. Turbo tax filing 2012   A small employer may begin HDHPs and Archer MSAs for his or her employees and then grow beyond 50 employees. Turbo tax filing 2012 The employer will continue to meet the requirement for small employers if he or she: Had 50 or fewer employees when the Archer MSAs began, Made a contribution that was excludable or deductible as an Archer MSA for the last year he or she had 50 or fewer employees, and Had an average of 200 or fewer employees each year after 1996. Turbo tax filing 2012 Changing employers. Turbo tax filing 2012   If you change employers, your Archer MSA moves with you. Turbo tax filing 2012 However, you may not make additional contributions unless you are otherwise eligible. Turbo tax filing 2012 High deductible health plan (HDHP). Turbo tax filing 2012   To be eligible for an Archer MSA, you must be covered under an HDHP. Turbo tax filing 2012 An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the annual out-of-pocket medical expenses that you must pay for covered expenses. Turbo tax filing 2012 Limits. Turbo tax filing 2012   The following table shows the limits for annual deductibles and the maximum out-of-pocket expenses for HDHPs for 2013. Turbo tax filing 2012   Self-only coverage Family coverage Minimum annual deductible $2,150 $4,300 Maximum annual deductible $3,200 $6,450 Maximum annual out-of-pocket expenses $4,300 $7,850 Family plans that do not meet the high deductible rules. Turbo tax filing 2012   There are some family plans that have deductibles for both the family as a whole and for individual family members. Turbo tax filing 2012 Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Turbo tax filing 2012 If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Turbo tax filing 2012 Example. Turbo tax filing 2012 You have family health insurance coverage in 2013. Turbo tax filing 2012 The annual deductible for the family plan is $5,500. Turbo tax filing 2012 This plan also has an individual deductible of $2,000 for each family member. Turbo tax filing 2012 The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($4,300) for family coverage. Turbo tax filing 2012 Other health coverage. Turbo tax filing 2012   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Turbo tax filing 2012 However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Turbo tax filing 2012 However, you can have additional insurance that provides benefits only for the following items. Turbo tax filing 2012 Liabilities incurred under workers' compensation laws, torts, or ownership or use of property. Turbo tax filing 2012 A specific disease or illness. Turbo tax filing 2012 A fixed amount per day (or other period) of hospitalization. Turbo tax filing 2012 You can also have coverage (whether provided through insurance or otherwise) for the following items. Turbo tax filing 2012 Accidents. Turbo tax filing 2012 Disability. Turbo tax filing 2012 Dental care. Turbo tax filing 2012 Vision care. Turbo tax filing 2012 Long-term care. Turbo tax filing 2012 Contributions to an MSA Contributions to an Archer MSA must be made in cash. Turbo tax filing 2012 You cannot contribute stock or other property to an Archer MSA. Turbo tax filing 2012 Who can contribute to my Archer MSA?   If you are an employee, your employer may make contributions to your Archer MSA. Turbo tax filing 2012 (You do not pay tax on these contributions. Turbo tax filing 2012 ) If your employer does not make contributions to your Archer MSA, or you are self-employed, you can make your own contributions to your Archer MSA. Turbo tax filing 2012 Both you and your employer cannot make contributions to your Archer MSA in the same year. Turbo tax filing 2012 You do not have to make contributions to your Archer MSA every year. Turbo tax filing 2012    If your spouse is covered by your HDHP and an excludable amount is contributed by your spouse's employer to an Archer MSA belonging to your spouse, you cannot make contributions to your own Archer MSA that year. Turbo tax filing 2012 Limits There are two limits on the amount you or your employer can contribute to your Archer MSA: The annual deductible limit. Turbo tax filing 2012 An income limit. Turbo tax filing 2012 Annual deductible limit. Turbo tax filing 2012   You (or your employer) can contribute up to 75% of the annual deductible of your HDHP (65% if you have a self-only plan) to your Archer MSA. Turbo tax filing 2012 You must have the HDHP all year to contribute the full amount. Turbo tax filing 2012 If you do not qualify to contribute the full amount for the year, determine your annual deductible limit by using the worksheet in the Instructions for Form 8853, Archer MSAs and Long-Term Care Insurance Contracts. Turbo tax filing 2012 Example 1. Turbo tax filing 2012 You have an HDHP for your family all year in 2013. Turbo tax filing 2012 The annual deductible is $5,000. Turbo tax filing 2012 You can contribute up to $3,750 ($5,000 × 75%) to your Archer MSA for the year. Turbo tax filing 2012 Example 2. Turbo tax filing 2012 You have an HDHP for your family for the entire months of July through December 2013 (6 months). Turbo tax filing 2012 The annual deductible is $5,000. Turbo tax filing 2012 You can contribute up to $1,875 ($5,000 × 75% ÷ 12 × 6) to your Archer MSA for the year. Turbo tax filing 2012 If you and your spouse each have a family plan, you are treated as having family coverage with the lower annual deductible of the two health plans. Turbo tax filing 2012 The contribution limit is split equally between you unless you agree on a different division. Turbo tax filing 2012 Income limit. Turbo tax filing 2012   You cannot contribute more than you earned for the year from the employer through whom you have your HDHP. Turbo tax filing 2012   If you are self-employed, you cannot contribute more than your net self-employment income. Turbo tax filing 2012 This is your income from self-employment minus expenses (including the deductible part of self-employment tax). Turbo tax filing 2012 Example 1. Turbo tax filing 2012 Noah Paul earned $25,000 from ABC Company in 2013. Turbo tax filing 2012 Through ABC, he had an HDHP for his family for the entire year. Turbo tax filing 2012 The annual deductible was $5,000. Turbo tax filing 2012 He can contribute up to $3,750 to his Archer MSA (75% × $5,000). Turbo tax filing 2012 He can contribute the full amount because he earned more than $3,750 at ABC. Turbo tax filing 2012 Example 2. Turbo tax filing 2012 Westley Lawrence is self-employed. Turbo tax filing 2012 He had an HDHP for his family for the entire year in 2013. Turbo tax filing 2012 The annual deductible was $5,000. Turbo tax filing 2012 Based on the annual deductible, the maximum contribution to his Archer MSA would have been $3,750 (75% × $5,000). Turbo tax filing 2012 However, after deducting his business expenses, Joe's net self-employment income is $2,500 for the year. Turbo tax filing 2012 Therefore, he is limited to a contribution of $2,500. Turbo tax filing 2012 Individuals enrolled in Medicare. Turbo tax filing 2012   Beginning with the first month you are enrolled in Medicare, you cannot contribute to an Archer MSA. Turbo tax filing 2012 However, you may be eligible for a Medicare Advantage MSA, discussed later. Turbo tax filing 2012 When To Contribute You can make contributions to your Archer MSA for 2013 until April 15, 2014. Turbo tax filing 2012 Reporting Contributions on Your Return Report all contributions to your Archer MSA on Form 8853 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 You should include all contributions you, or your employer, made for 2013, including those made by April 15, 2014, that are designated for 2013. Turbo tax filing 2012 You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount you (or your employer) contributed during the year. Turbo tax filing 2012 Your employer's contributions should be shown in box 12 of Form W-2, Wage and Tax Statement, with code R. Turbo tax filing 2012 Follow the instructions for Form 8853 and complete the worksheet in the instructions. Turbo tax filing 2012 Report your Archer MSA deduction on Form 1040 or Form 1040NR. Turbo tax filing 2012 Excess contributions. Turbo tax filing 2012   You will have excess contributions if the contributions to your Archer MSA for the year are greater than the limits discussed earlier. Turbo tax filing 2012 Excess contributions are not deductible. Turbo tax filing 2012 Excess contributions made by your employer are included in your gross income. Turbo tax filing 2012 If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Turbo tax filing 2012   Generally, you must pay a 6% excise tax on excess contributions. Turbo tax filing 2012 See Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Turbo tax filing 2012 The excise tax applies to each tax year the excess contribution remains in the account. Turbo tax filing 2012   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Turbo tax filing 2012 You withdraw the excess contributions by the due date, including extensions, of your tax return. Turbo tax filing 2012 You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Turbo tax filing 2012 Deducting an excess contribution in a later year. Turbo tax filing 2012   You may be able to deduct excess contributions for previous years that are still in your Archer MSA. Turbo tax filing 2012 The excess contribution you can deduct in the current year is the lesser of the following two amounts. Turbo tax filing 2012 Your maximum Archer MSA contribution limit for the year minus any amounts contributed to your Archer MSA for the year. Turbo tax filing 2012 The total excess contributions in your Archer MSA at the beginning of the year. Turbo tax filing 2012   Any excess contributions remaining at the end of a tax year are subject to the excise tax. Turbo tax filing 2012 See Form 5329. Turbo tax filing 2012 Distributions From an MSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Turbo tax filing 2012 When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your Archer MSA to send you a distribution from your Archer MSA. Turbo tax filing 2012 You can receive tax-free distributions from your Archer MSA to pay for qualified medical expenses (discussed later). Turbo tax filing 2012 If you receive distributions for other reasons, the amount will be subject to income tax and may be subject to an additional 20% tax as well. Turbo tax filing 2012 You do not have to make withdrawals from your Archer MSA each year. Turbo tax filing 2012 If you no longer qualify to make contributions, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Turbo tax filing 2012 A distribution is money you get from your Archer MSA. Turbo tax filing 2012 The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Turbo tax filing 2012 Qualified medical expenses. Turbo tax filing 2012   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Turbo tax filing 2012 These are explained in Publication 502. Turbo tax filing 2012   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for MSA purposes. Turbo tax filing 2012 A medicine or drug will be a qualified medical expense for MSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Turbo tax filing 2012   Qualified medical expenses are those incurred by the following persons. Turbo tax filing 2012 You and your spouse. Turbo tax filing 2012 All dependents you claim on your tax return. Turbo tax filing 2012 Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Turbo tax filing 2012    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Turbo tax filing 2012    You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your Archer MSA. Turbo tax filing 2012 Special rules for insurance premiums. Turbo tax filing 2012   Generally, you cannot treat insurance premiums as qualified medical expenses for Archer MSAs. Turbo tax filing 2012 You can, however, treat premiums for long-term care coverage, health care coverage while you receive unemployment benefits, or health care continuation coverage required under any federal law as qualified medical expenses for Archer MSAs. Turbo tax filing 2012 Health coverage tax credit. Turbo tax filing 2012   You cannot claim this credit for premiums that you pay with a tax-free distribution from your Archer MSA. Turbo tax filing 2012 See Publication 502 for information on this credit. Turbo tax filing 2012 Deemed distributions from Archer MSAs. Turbo tax filing 2012   The following situations result in deemed taxable distributions from your Archer MSA. Turbo tax filing 2012 You engaged in any transaction prohibited by section 4975 with respect to any of your Archer MSAs at any time in 2013. Turbo tax filing 2012 Your account ceases to be an Archer MSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8853. Turbo tax filing 2012 You used any portion of any of your Archer MSAs as security for a loan at any time in 2013. Turbo tax filing 2012 You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Turbo tax filing 2012   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the Archer MSA, Lending of money between you and the Archer MSA, Furnishing goods, services, or facilities between you and the Archer MSA, and Transfer to or use by you, or for your benefit, of any assets of the Archer MSA. Turbo tax filing 2012   Any deemed distribution will not be treated as used to pay qualified medical expenses. Turbo tax filing 2012 These distributions are included in your income and are subject to the additional 20% tax, discussed later. Turbo tax filing 2012 Recordkeeping. Turbo tax filing 2012 You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Turbo tax filing 2012 Do not send these records with your tax return. Turbo tax filing 2012 Keep them with your tax records. Turbo tax filing 2012 Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Turbo tax filing 2012 If you use a distribution from your Archer MSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8853. Turbo tax filing 2012 Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 If you do not use a distribution from your Archer MSA for qualified medical expenses, you must pay tax on the distribution. Turbo tax filing 2012 Report the amount on Form 8853 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 You may have to pay an additional 20% tax, discussed later, on your taxable distribution. Turbo tax filing 2012 If an amount (other than a rollover) is contributed to your Archer MSA this year (by you or your employer), you also must report and pay tax on a distribution you receive from your Archer MSA this year that is used to pay medical expenses of someone who is not covered by an HDHP, or is also covered by another health plan that is not an HDHP, at the time the expenses are incurred. Turbo tax filing 2012 Rollovers. Turbo tax filing 2012   Generally, any distribution from an Archer MSA that you roll over into another Archer MSA or an HSA is not taxable if you complete the rollover within 60 days. Turbo tax filing 2012 An Archer MSA and an HSA can only receive one rollover contribution during a 1-year period. Turbo tax filing 2012 See the Form 8853 instructions for more information. Turbo tax filing 2012 Additional tax. Turbo tax filing 2012   There is a 20% additional tax on the part of your distributions not used for qualified medical expenses. Turbo tax filing 2012 Figure the tax on Form 8853 and file it with your Form 1040 or Form 1040NR. Turbo tax filing 2012 Report the additional tax in the total on Form 1040 or Form 1040NR. Turbo tax filing 2012 Exceptions. Turbo tax filing 2012   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Turbo tax filing 2012 Balance in an Archer MSA An Archer MSA is generally exempt from tax. Turbo tax filing 2012 You are permitted to take a distribution from your Archer MSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Turbo tax filing 2012 Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Turbo tax filing 2012 Earnings on amounts in an Archer MSA are not included in your income while held in the Archer MSA. Turbo tax filing 2012 Death of the Archer MSA Holder You should choose a beneficiary when you set up your Archer MSA. Turbo tax filing 2012 What happens to that Archer MSA when you die depends on whom you designate as the beneficiary. Turbo tax filing 2012 Spouse is the designated beneficiary. Turbo tax filing 2012   If your spouse is the designated beneficiary of your Archer MSA, it will be treated as your spouse's Archer MSA after your death. Turbo tax filing 2012 Spouse is not the designated beneficiary. Turbo tax filing 2012   If your spouse is not the designated beneficiary of your Archer MSA: The account stops being an Archer MSA, and The fair market value of the Archer MSA becomes taxable to the beneficiary in the year in which you die. Turbo tax filing 2012   If your estate is the beneficiary, the fair market value of the Archer MSA will be included on your final income tax return. Turbo tax filing 2012 The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Turbo tax filing 2012 Filing Form 8853 You must file Form 8853 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your Archer MSA during the year. Turbo tax filing 2012 You must file the form even if only your employer or your spouse's employer made contributions to the Archer MSA. Turbo tax filing 2012 If, during the tax year, you are the beneficiary of two or more Archer MSAs or you are a beneficiary of an Archer MSA and you have your own Archer MSA, you must complete a separate Form 8853 for each MSA. Turbo tax filing 2012 Enter “statement” at the top of each Form 8853 and complete the form as instructed. Turbo tax filing 2012 Next, complete a controlling Form 8853 combining the amounts shown on each of the statement Forms 8853. Turbo tax filing 2012 Attach the statements to your tax return after the controlling Form 8853. Turbo tax filing 2012 Employer Participation This section contains the rules that employers must follow if they decide to make Archer MSAs available to their employees. Turbo tax filing 2012 Unlike the previous discussions, “you” refers to the employer and not to the employee. Turbo tax filing 2012 Health plan. Turbo tax filing 2012   If you want your employees to be able to have an Archer MSA, you must make an HDHP available to them. Turbo tax filing 2012 You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Turbo tax filing 2012 Contributions. Turbo tax filing 2012   You can make contributions to your employees' Archer MSAs. Turbo tax filing 2012 You deduct the contributions on the “Employee benefit programs” line of your business income tax return for the year in which you make the contributions. Turbo tax filing 2012 If you are filing Form 1040, Schedule C, this is Part II, line 14. Turbo tax filing 2012 Comparable contributions. Turbo tax filing 2012   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' Archer MSAs. Turbo tax filing 2012 Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Turbo tax filing 2012 Comparable participating employees. Turbo tax filing 2012   Comparable participating employees: Are covered by your HDHP and are eligible to establish an Archer MSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (either part-time or full-time). Turbo tax filing 2012 Excise tax. Turbo tax filing 2012   If you made contributions to your employees' Archer MSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Turbo tax filing 2012 Employment taxes. Turbo tax filing 2012   Amounts you contribute to your employees' Archer MSAs are generally not subject to employment taxes. Turbo tax filing 2012 You must report the contributions in box 12 of the Form W-2 you file for each employee. Turbo tax filing 2012 Enter code “R” in box 12. Turbo tax filing 2012 Medicare Advantage MSAs A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder. Turbo tax filing 2012 To be eligible for a Medicare Advantage MSA, you must be enrolled in Medicare and have a high deductible health plan (HDHP) that meets the Medicare guidelines. Turbo tax filing 2012 A Medicare Advantage MSA is a tax-exempt trust or custodial savings account that you set up with a financial institution (such as a bank or an insurance company) in which the Medicare program can deposit money for qualified medical expenses. Turbo tax filing 2012 The money in your account is not taxed if it is used for qualified medical expenses, and it may earn interest or dividends. Turbo tax filing 2012 An HDHP is a special health insurance policy that has a high deductible. Turbo tax filing 2012 You choose the policy you want to use as part of your Medicare Advantage MSA plan. Turbo tax filing 2012 However, the policy must be approved by the Medicare program. Turbo tax filing 2012 Medicare Advantage MSAs are administered through the federal Medicare program. Turbo tax filing 2012 You can get information by calling 1-800-Medicare (1-800-633-4227) or through the Internet at www. Turbo tax filing 2012 medicare. Turbo tax filing 2012 gov. Turbo tax filing 2012 Note. Turbo tax filing 2012 You must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your tax return if you have a Medicare Advantage MSA. Turbo tax filing 2012 Flexible Spending Arrangements (FSAs) A health flexible spending arrangement (FSA) allows employees to be reimbursed for medical expenses. Turbo tax filing 2012 FSAs are usually funded through voluntary salary reduction agreements with your employer. Turbo tax filing 2012 No employment or federal income taxes are deducted from your contribution. Turbo tax filing 2012 The employer may also contribute. Turbo tax filing 2012 Note. Turbo tax filing 2012 Unlike HSAs or Archer MSAs which must be reported on Form 1040 or Form 1040NR, there are no reporting requirements for FSAs on your income tax return. Turbo tax filing 2012 For information on the interaction between a health FSA and an HSA, see Other employee health plans under Qualifying for an HSA, earlier. Turbo tax filing 2012 What are the benefits of an FSA?   You may enjoy several benefits from having an FSA. Turbo tax filing 2012 Contributions made by your employer can be excluded from your gross income. Turbo tax filing 2012 No employment or federal income taxes are deducted from the contributions. Turbo tax filing 2012 Withdrawals may be tax free if you pay qualified medical expenses. Turbo tax filing 2012 See Qualified medical expenses , later. Turbo tax filing 2012 You can withdraw funds from the account to pay qualified medical expenses even if you have not yet placed the funds in the account. Turbo tax filing 2012 Qualifying for an FSA Health FSAs are employer-established benefit plans. Turbo tax filing 2012 These may be offered in conjunction with other employer-provided benefits as part of a cafeteria plan. Turbo tax filing 2012 Employers have complete flexibility to offer various combinations of benefits in designing their plan. Turbo tax filing 2012 You do not have to be covered under any other health care plan to participate. Turbo tax filing 2012 Self-employed persons are not eligible for an FSA. Turbo tax filing 2012 Certain limitations may apply if you are a highly compensated participant or a key employee. Turbo tax filing 2012 Contributions to an FSA You contribute to your FSA by electing an amount to be voluntarily withheld from your pay by your employer. Turbo tax filing 2012 This is sometimes called a salary reduction agreement. Turbo tax filing 2012 The employer may also contribute to your FSA if specified in the plan. Turbo tax filing 2012 You do not pay federal income tax or employment taxes on the salary you contribute or the amounts your employer contributes to the FSA. Turbo tax filing 2012 However, contributions made by your employer to provide coverage for long-term care insurance must be included in income. Turbo tax filing 2012 When To Contribute At the
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IRS Statement on Court Ruling Related to Return Preparers

Update Feb. 21, 2014

On Feb. 11, 2014, the U.S. Court of Appeals for the District of Columbia Circuit upheld the decision of the lower court in the case of Loving vs. IRS, finding insufficient statutory support for the IRS’ regulation of federal tax return preparers.

Taxpayer reliance on paid tax return preparers and effective tax administration are inextricably linked to quality return preparation. As we assess the scope and impact of the court’s decision and determine our way forward, our focus on improved competency will continue.  

Please continue to check this site for additional information as it becomes available.

Background

On Friday, Jan. 18, 2013, the United States District Court for the District of Columbia enjoined the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. In accordance with this order, tax return preparers covered by this program are not required to complete competency testing or secure continuing education. The ruling does not affect the regulatory practice requirements for CPAs, attorneys, enrolled agents, enrolled retirement plan agents or enrolled actuaries.

On Friday, Feb. 1, 2013, the court modified its order to clarify that the order does not affect the requirement for all paid tax return preparers to obtain a preparer tax identification number (PTIN). Consistent with this modification, the IRS has reopened the online PTIN system. On March 29, 2013, the IRS appealed the district court opinion.

In July 2013, the IRS refunded testing fees to return preparers who tested or were scheduled to test on or after Jan. 18, 2013 (the date the registered tax return preparer test was enjoined). No decisions have been made about additional refunds related to registered tax return preparer regulations at this time.

 

 

Page Last Reviewed or Updated: 05-Mar-2014

The Turbo Tax Filing 2012

Turbo tax filing 2012 Index A Accelerated death benefits, Accelerated Death Benefits, Accelerated death benefits. Turbo tax filing 2012 Archer MSA, HSA, Archer MSA, or Medicare Advantage MSA, HSA, Archer MSA, or a Medicare Advantage MSA. Turbo tax filing 2012 Assistance (see Tax help) Astronauts Tax forgiveness, Astronauts B Basis Inherited property, Basis of Inherited Property Joint interest property, Joint interest. Turbo tax filing 2012 Qualified joint interest, Qualified joint interest. Turbo tax filing 2012 Beneficiary Basis of property, Basis of Inherited Property Character of distributions, Character of Distributions Excess deductions, Excess deductions. Turbo tax filing 2012 Income received, Other Items of Income Liability, estate's income tax, Liability of the beneficiary. Turbo tax filing 2012 Nonresident alien, Nonresident alien beneficiary. Turbo tax filing 2012 Reporting distributions, How and When To Report Successor, Successor beneficiary. Turbo tax filing 2012 Treatment of distributions, Distributions to Beneficiaries Unused loss carryovers, Unused loss carryovers. Turbo tax filing 2012 Bequest Defined, Bequest Property received, Gifts, Insurance, and Inheritances C Claim, credit or refund, Claim for Credit or Refund Combat zone, Combat Zone Comments, Comments and suggestions. Turbo tax filing 2012 Coverdell education savings account (ESA), Coverdell Education Savings Account (ESA), Coverdell education savings account (ESA). Turbo tax filing 2012 Credit Child tax, Child tax credit. Turbo tax filing 2012 Earned income, Earned income credit. Turbo tax filing 2012 Elderly or disabled, Credit for the elderly or the disabled. Turbo tax filing 2012 Final return for decedent, Credits General business, General business tax credit. Turbo tax filing 2012 D Death benefits Accelerated, Accelerated Death Benefits, Accelerated death benefits. Turbo tax filing 2012 Public safety officers, Death benefits. Turbo tax filing 2012 Decedent Final return, Final Income Tax Return for Decedent—Form 1040 Income in respect of, Income in Respect of a Decedent Deductions Estate tax, Estate Tax Deduction In respect of decedent, Deductions in Respect of a Decedent Medical expenses, Medical Expenses Standard, Standard Deduction Distributable net income, Distributable net income. Turbo tax filing 2012 Distributions Deduction, Income Distribution Deduction Limit on deduction, Tax-exempt income not deductible. Turbo tax filing 2012 Not treated as bequests, Distributions not treated as bequests. Turbo tax filing 2012 Property, in kind, Property distributed in kind. Turbo tax filing 2012 E Education savings account, Coverdell, Coverdell Education Savings Account (ESA), Coverdell education savings account (ESA). Turbo tax filing 2012 Estate Income tax return, Income Tax Return of an Estate— Form 1041 Insolvent, Insolvent estate. Turbo tax filing 2012 Period of administration, Period of Administration Tax deduction, Estate Tax Deduction Termination, Termination of Estate Transfer of unused deductions, Transfer of Unused Deductions to Beneficiaries Estate tax deduction, Estate Tax Deduction Estimated tax, Estimated tax. Turbo tax filing 2012 , Transfer of Credit for Estimated Tax Payments Example Comprehensive, Comprehensive Example Decedent's final return, Final Return for Decedent—Form 1040 Estate's tax return, Income Tax Return of an Estate—Form 1041 Exemption Estate's tax return, Exemption Deduction Final return for decedent, Exemptions Expenses Accrued, Accrued expenses. Turbo tax filing 2012 Administration, Administration Expenses Deductions in respect of decedent, Deductions in Respect of a Decedent Funeral, Funeral and Medical Expenses Medical, Medical Expenses, Medical and dental expenses of a decedent. Turbo tax filing 2012 Extension to file Form 1041, Extension of time to file. Turbo tax filing 2012 F Fiduciary relationship, Notice of fiduciary relationship. Turbo tax filing 2012 Filing requirements Decedent's final return, Filing Requirements Estate's tax return, Filing Requirements Final return for decedent Credits, Credits Exemption and deductions, Exemptions and Deductions Filing requirements, Filing Requirements Income to include, Income To Include Joint return, Joint Return Name, address, and signature, Name, Address, and Signature Other taxes, Other Taxes Payments, Payments of Tax When and where to file, When and Where To File Who must file, Final Income Tax Return for Decedent—Form 1040 Form 1040NR, Nonresident Alien, Filing Requirements 1041, Income Tax Return of an Estate— Form 1041 1042, Nonresident alien beneficiary. Turbo tax filing 2012 1310, Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer. Turbo tax filing 2012 4810, Form 4810. Turbo tax filing 2012 56, Notice of fiduciary relationship. Turbo tax filing 2012 6251, Form 6251. Turbo tax filing 2012 706, Estate and Gift Taxes SS–4, Identification number. Turbo tax filing 2012 Free tax services, Free help with your tax return. Turbo tax filing 2012 Funeral expenses, Funeral expenses. Turbo tax filing 2012 G Gift, property, Gifts, Insurance, and Inheritances H Help (see Tax help) I Identification number, application, Identification number. Turbo tax filing 2012 Income Community, Community Income Distributable net income, Distributable net income. Turbo tax filing 2012 Distributed currently, Income That Must Be Distributed Currently Interest and dividend, Interest and Dividend Income (Forms 1099) Partnership, final return, Partnership Income S corporation, S Corporation Income Self-employment, Self-Employment Income Income in respect of decedent, Income in Respect of a Decedent, Inherited IRAs. Turbo tax filing 2012 Income tax return of an estate Credits, tax, and payments, Credits, Tax, and Payments Exemption and deductions, Exemption and Deductions Filing requirements, Filing Requirements Income to include, Income To Include Name, address, and signature, Name, Address, and Signature When and where to file, When and Where To File Inherited IRAs, Inherited IRAs. Turbo tax filing 2012 Inherited property, Gifts, Insurance, and Inheritances Installment obligations, Installment obligations. Turbo tax filing 2012 , Installment obligations. Turbo tax filing 2012 Insurance, Insurance J Joint return Revoked by personal representative, Personal representative may revoke joint return election. Turbo tax filing 2012 Who can file, Joint Return L Losses Deduction on final return, Deduction for Losses Estate's tax return, Losses M Military or terrorist actions Claim for credit or refund, Claim for Credit or Refund Defined, Military or terrorist action defined. Turbo tax filing 2012 Tax forgiveness, Tax Forgiveness for Armed Forces Members, Victims of Terrorism, and Astronauts N Notice of fiduciary relationship Form 56, Notice of fiduciary relationship. Turbo tax filing 2012 P Partnership income, Partnership Income, Partnership income. Turbo tax filing 2012 Penalty Information returns, Penalty. Turbo tax filing 2012 Substantial valuation misstatement, Valuation misstatements. Turbo tax filing 2012 Personal representative Defined, Personal Representative Duties, Duties Fees received, Fees Received by Personal Representatives Penalty, Penalty. Turbo tax filing 2012 , Penalty. Turbo tax filing 2012 Prompt assessment, request, Request for prompt assessment (charge) of tax. Turbo tax filing 2012 Public safety officers, death benefits, Death benefits. Turbo tax filing 2012 Publications (see Tax help) R Refund File for decedent, Refund Military or terrorist action deaths, Claim for Credit or Refund Release from liability, Request for discharge from personal liability for tax. Turbo tax filing 2012 Return Decedent's final, Final Income Tax Return for Decedent—Form 1040 Estate's income tax, Income Tax Return of an Estate— Form 1041 Information, Information Returns Roth IRA, Roth IRAs. Turbo tax filing 2012 S Separate shares rule, Separate shares rule. Turbo tax filing 2012 Suggestions, Comments and suggestions. Turbo tax filing 2012 Survivors Income, Other Items of Income Tax benefits, Tax Benefits for Survivors T Tax Alternative minimum Estate, Alternative minimum tax (AMT). Turbo tax filing 2012 Individuals, Alternative minimum tax (AMT). Turbo tax filing 2012 Benefits, survivors, Tax Benefits for Survivors Estimated, estate, Estimated tax. Turbo tax filing 2012 , Transfer of Credit for Estimated Tax Payments Payments, final return, Payments of Tax Refund of income (claim), Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer. Turbo tax filing 2012 Self-employment, Self-employment tax. Turbo tax filing 2012 Transfer of credit, Transfer of Credit for Estimated Tax Payments Tax help, How To Get Tax Help Terrorist action, tax relief, Tax Forgiveness for Armed Forces Members, Victims of Terrorism, and Astronauts Terrorist victim, Specified Terrorist Victim TTY/TDD information, How To Get Tax Help V Valuation method Inherited property, Basis of Inherited Property Special-use, Special-use valuation. Turbo tax filing 2012 Victims of terrorist attacks, Specified Terrorist Victim W Widows and widowers, tax benefits, Qualifying widows and widowers. Turbo tax filing 2012 Prev  Up     Home   More Online Publications