Knowledge system is not enabled for this account. Redirecting to LiveHelpNow... Indiana Medical Savings Account Deduction - Print

Indiana Medical Savings Account Deduction

Article ID: 33332  

Question
Indiana Medical Savings Account Deduction

Answer
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.
Note: You are not eligible to claim this deduction if you also claimed a medical savings account deduction on the front page of federal Form 1040.
Make sure you enclose Form IN-MSA or your claimed deduction will be denied.

Article Details
Views: 2355 Created on: Jun 15, 2013