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 About Form 8853, Archer MSAs and Long Term Care 2023-2024

Irs 8853 2023-2024 Form

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will be reviewing IRS form 8853 Archer msas and long-term care insurance contracts this form is not that commonly used by most taxpayers primarily because after December 31st 2007 you cannot make a contribution to an Archer MSA unless you were an active Archer MSA participant prior to 2008 or you became an active MSA participant for a tax year ending after 2007 because of coverage that you have under a high deductible health plan of an Archer MSA participating employer so the purpose of this tax form is to do several things one report Archer MSA contributions to include employer contributions to calculate your Archer MSA deduction three report distributions from Archer msas or Medicare Advantage msas for report taxable payments from long-term care insurance contracts and five report taxable accelerated death benefits from a life insurance policy you must file this tax form if any of the following conditions apply one you or your employer made contributions for the given tax year to you

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