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Utah Medical Savings Account

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Utah Medical Savings Account

Answer
Medical Care Savings Account (MSA) Addback
A MSA account holder receives a form TC-675M, Statement of Withholding for Utah Medical Savings Account, from the account administrator each year they contribute. Include the sum from TC-675M, lines 8 and 9 only up to the amount deducted on your Utah return for a tax year before 2008, or used to calculate the MSA credit on your Utah return after 2007. Keep form TC-675M with your records.
Medical Care Savings Account (MSA) Credit
If you made a qualified investment in a Medical Care Savings Account (MSA) and did NOT deduct that investment on your federal form 1040, you may use the MSA amount to calculate your Utah credit.
The Utah resident account holder of an MSA receives form TC-675M, Statement of Withholding for Utah Medical Savings Account, from the account administrator. Include the sum of lines 5 and 6. Keep form TC-675M with your records.

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Views: 387 Created on: Jun 15, 2013
Date updated: Oct 10, 2014

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