Any CPA's on here? Quick tax question.
For the Indiana Medical Savings account deduction... I'm getting conflicting information.
---A taxpayer may be eligible for a deduction if the taxpayer's employer deposited funds in certain medical care savings accounts on behalf of the taxpayer. The amount of the deduction is equal to the amount of money deposited by an employer in the medical care savings accounts.
---
Medical Savings Account Deduction
You may be eligible for a deduction if your employer deposited funds in certain medical care savings accounts. If you received Form IN-MSA from the account provider you should deduct any medical withdrawals and exempt interest income reported in Box 2 and/or Box 7.
What am I able to deduct....
The amount my employer contributes into the account?
The total amount of deposits placed in the account?
or the total distributions paid FROM the account?
My emploer deposited $1000
Total deposits equals $3050
Disbursments were $3020
Not sure which figure I list for the MSA deduction???
For the Indiana Medical Savings account deduction... I'm getting conflicting information.
---A taxpayer may be eligible for a deduction if the taxpayer's employer deposited funds in certain medical care savings accounts on behalf of the taxpayer. The amount of the deduction is equal to the amount of money deposited by an employer in the medical care savings accounts.
---
Medical Savings Account Deduction
You may be eligible for a deduction if your employer deposited funds in certain medical care savings accounts. If you received Form IN-MSA from the account provider you should deduct any medical withdrawals and exempt interest income reported in Box 2 and/or Box 7.
What am I able to deduct....
The amount my employer contributes into the account?
The total amount of deposits placed in the account?
or the total distributions paid FROM the account?
My emploer deposited $1000
Total deposits equals $3050
Disbursments were $3020
Not sure which figure I list for the MSA deduction???
Last edited:
