BMcCalpin
Level 13
Member profile
Bill McCalpin is an Enrolled Agent (EA). He spent 5 years writing tax software (1120) for another tax company and 3 years doing tax returns for a third tax company. He specializes in questions dealing with HSAs and other health-related programs.
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"If $1800 is taken from account or spent on non-medical is 20% penalty on $ 1800 only or on total income for that year ?"The 20% penalty is only on that portion...
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Yes. As noted at this IRS webpage, the amount of credit available for installing a PV system is 26% is installed during tax year 2020. Seehttps://www.irs.gov/ne...
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The answer is "yes", depending on your birthday. Please see https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-di...
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It is possible to accidentally indicate to TurboTax that you made excess HSA contributions when perhaps you haven't.I understand that the following list is long...
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As you can imagine, it is difficult to diagnose situations on returns that we cannot see. However, your description is consistent with the following sequences o...
Activity Feed for BMcCalpin
- Got Cheered for The form 8889-S is the TurboTax name for the 8889 for you.... a week ago
- Got Cheered for No, a Medical Savings Account is different from a Health.... 2 weeks ago
- Got Cheered for Line 2 is your personal contributions to your HSA. Line 9.... October 12, 2024 8:18 AM
- Got Cheered for You are permitted to deduct up to $5k in startup costs (w.... October 8, 2024 11:18 AM
- Got Cheered for Re: TurboTax will select the method that gives you the best r.... August 11, 2024 11:28 AM
- Got Cheered for This is correct. The IRS considers both your employer's.... May 28, 2024 11:54 AM
- Got Cheered for Both comments above are correct, but let me explain a lit.... April 16, 2024 2:55 PM
- Got Cheered for The IRS considers, by default, HSA contributions to be ta.... April 12, 2024 4:53 AM
- Got Cheered for "What type of HDHP coverage did [name] have on December 1.... March 3, 2024 9:06 AM
- Got Cheered for The reason that your HSA contribution is called the "empl.... March 2, 2024 1:29 PM
- Got Cheered for Both comments above are correct, but let me explain a lit.... February 27, 2024 11:53 AM
- Got Cheered for To be eligible for an HSA, you must have an HDHP (High De.... February 19, 2024 9:22 AM
- Got Cheered for The Payer's name is the name of the HSA plan administrato.... January 24, 2024 5:44 PM
- Got Cheered for The amount with code "W" in box 12 in your W-2 is the sum.... April 17, 2023 7:43 PM
- Got Cheered for There will be two parts to this answer; please read both..... April 17, 2023 7:33 PM
- Got Cheered for You have capital gains or qualified dividends. While t.... April 11, 2023 2:55 AM
- Got Cheered for Re: Switched from FSA to HSA mid-year - Everything OK?. April 10, 2023 9:11 PM
- Got Cheered for This seems confusing - because it is. Yes, your HSA distr.... April 8, 2023 8:49 AM
- Got Cheered for On the screen entitled "OK, let's get this info from your.... April 4, 2023 10:59 PM
- Got Cheered for Re: What is a hdhp how do I determine if that's what I had?. March 23, 2023 8:39 PM