Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carol Wheeler, age 56, is single. Carol earned wages of $48,000 and was enrolled the entire year in a high deductible health plan (HDHP) with

image text in transcribedimage text in transcribed

Carol Wheeler, age 56, is single. Carol earned wages of $48,000 and was enrolled the entire year in a high deductible health plan (HDHP) with self-only coverage. During the year, Carol contributed $3,000 to her Health Savings Account (HSA) and her cousin also contributed $1,000 to Carol's HSA account. Carol's Form W-2 shows $600 in Box 12 with code W. She has Form 5498-SA showing $4,600 in Box 2. Carol took a distribution from her HSA to pay her unreimbursed expenses: 2 visits to a physical therapist due to a car accident $300 unreimbursed doctor bills for $700 - prescription medicine $400 replacement of a crown $1,500 over the counter sinus medication $80 10 Zumba classes for $125 Carol is a U.S. citizen with a valid Social Security number. a Form 8889, Part 1 is used to report HSA contributions made by a. Carol b. Carol's employer C. Carol's cousin d. All the above to her HSA because she is Carol is eligible to contribute an additional $ age 55 or older. What is the total unreimbursed qualified medical expenses reported on Form 8889, Part II? a. $2,600 b. $2,900 c. $2,980 d. $3,105

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting Information For Decision Making

Authors: Anthony A. Atkinson

7th Edition

1618533517, 9781618533517

More Books

Students also viewed these Accounting questions