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Health Surcharge Trinidad Form

Health Surcharge Trinidad Form

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all right for this video I wanted to talk about hsas or health savings accounts and how these amounts both the contributions and distributions are reported in Turbo Tax so we do have the Turbo Tax self-employed version here for our sample taxpayer so we'll come back to this in a bit but first I want to go over some of the information on this slide and just cover a bit of background on these hsas and how they work so health savings accounts effectively give a taxpayer the ability to set aside money for future medical expenses but by setting aside the money they get a tax deduction right so the HSA accounts you fund the account you get a tax deduction on your return and the money just kind of sits in the account until until in the future when you need to use either just a piece of it or all of it for future qualified medical expenses now the HSA contributions are reported as above the line tax deductions so effectively the money you put in you get a deduction in arriving at adjusted gros

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