How do I annotate excess contributions on my montana medical care savings account?
I contributed more than the allowable amount and paid for medical expenses. How do I annotate this on my Montana Medical Care Savings account?
I contributed more than the allowable amount and paid for medical expenses. How do I annotate this on my Montana Medical Care Savings account?
This is not automatic, so you will have to do some arithmetic as you enter it.
In the Montana interview, you will see a screen with the heading: "Montana Medical Care Savings Account". Enter:
Hit Continue. You will see another screen with the same heading.
Hit Continue. You will see a third screen with the same heading.
Note that any amount of the excess that you can withdraw will be added to Montana Additions and taxed.
Note that any amount of the excess that you cannot withdraw (presumably because you have already spent the money) will not only be added to your Montana Additions to be taxed, but will be charged an additional 10% penalty.
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