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.
"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...
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...
The answer is "yes", depending on your birthday. Please see https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-di...
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...
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...