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Please help David do this year's taxes.

Posted by David (aka David) Apr 6 '11, 13:18

Our insurance gives us $1,300 each year to spend on medical expenses. Since I have the constitution of C. Montgomery Burns, we of course spend all of that on drugs, surgeries and blood theft. When I enter the $1,300 in the tab for 12a to explain the W, my rebate drops $195. I don't want cheat on this (I'm not even factoring in home business expenses since I'm not 100% sure what is legal) but I also don't want to get screwed. Am I doing something wrong or does the money count as income anyway?

Yes, I know that you were promised that there would be no tax law discussions today. People lie. Deal with i.

Responses:

Okay, mystery solved. The account is solo, but I was listing as joint. Thanks, everyone. -- nm - David Apr 6, 13:46
well for the home business deductions. - tRuMaN Apr 6, 13:35 1
- This is easy for us to do since we have the computer room/home office. - David Apr 6, 13:44
did you exceed your maximum contribution (your amount + that 1300) for the year? - b. Apr 6, 13:28 18
- I...don't know. If the question is whether we paid more than $1,300 in medical expenses, the answer is good lord, yes. -- nm - David Apr 6, 13:31 17
  - (No, we did not.) -- nm - Kim Pine Apr 6, 13:37 3
    - I think the relevant question is "how much did you pay out of pocket after having depleted the HSA?" -- nm - amanda jones, transitarian Apr 6, 13:44 1
      - a bajillion dollars. - Kim Pine Apr 6, 13:44
    - (contribute more than $1,300 to the HSA). -- nm - Kim Pine Apr 6, 13:38
  - Could it be that they want to know if you spent in excess of 1300, out of pocket, that was NOT covered/reimbursed by insurance? (Not an expert here) -- nm - ty97 Apr 6, 13:35 2
    - well that would be a Schedule A itemized deductions entry, -- nm - tRuMaN Apr 6, 13:36 1
      - Yes, that was the part I was thinking about. Are talking about the main 1040 and not the Schedule A? -- nm - ty97 Apr 6, 13:45
  - so this is an HSA or something else? - tRuMaN Apr 6, 13:33 9
    - right, I'm referring to hsa-type contributions, which it sounds like it may be. I don't know about insurance doing that, but it can work the way I - b. Apr 6, 13:37 8
      - It's HSA. The only thing that went in the HSA is $1,300. - Kim Pine Apr 6, 13:38 7
        
        well, the 1099-sa should have the amount of contribution, the amount spent, and a box stating the amount not taxable. - tRuMaN Apr 6, 13:39 6
        
        I'm not sure I got a 1099-sa. It's listed on the W2. -- nm - Kim Pine Apr 6, 13:42 5
        
        is it a check box? box e, I think? -- nm - amanda jones, transitarian Apr 6, 13:45
        
        Is it pre-tax dollars? Not all benefits are (I think). -- nm - mara Apr 6, 13:44 2
        
        I think HSA is after tax dollars, if I remember right. -- nm - Kim Pine Apr 6, 13:45 1
        
        then it can't impact your tax liability. you've already paid taxes on it. you can't pay twice. - amanda jones, transitarian Apr 6, 13:47
        
        hmm, thinking. give me a minute. -- nm - tRuMaN Apr 6, 13:44

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Please help David do this year's taxes.

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