Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jenny Smith, age 57, is single. Jenny earned wages of $52,000 and was enrolled the entire year in a high deductible health plan (HDHP) with

Jenny Smith, age 57, is single.

Jenny earned wages of $52,000 and was enrolled the entire year in a high deductible health plan (HDHP) with self-only coverage.

During the year, Jenny contributed $2,000 to her Health Savings Account (HSA) and her mother also contributed $1,000 to Jenny's HSA account.

Jenny's Form W-2 shows $650 in Box 12 with code W. She has Form 5498-SA showing $3,650 in Box 2.

Jenny took a distribution from her HSA to pay her unreimbursed expenses:

8 visits to a physical therapist after her knee surgery $400

unreimbursed doctor bills for $900

prescription medicine $200

replacement of a crown $1,500

over the counter medication $40

gym membership $240

Jenny is a U.S. citizen with a valid Social Security number

1.) Form 8889, Part 1 is used to report HSA contributions made by _______________. a. Jenny b. Jenny's employer c. Jenny's mother d. All of the above

2.) Jenny is eligible to contribute an additional $1,000 to her HSA because she is age 55 or older. a. True b. False

3.) What is the total unreimbursed qualified medical expenses reported on Form 8889, Part II? a. $2,640 b. $3,000 c. $3,040 d. $3,280

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

Step: 3

blur-text-image

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

Principles Of Financial Accounting

Authors: Christine Jonick

1st Edition

1940771153, 9781940771151

More Books

Students also viewed these Accounting questions