IRS, Tax related strategies--Traders Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : IRS, Tax related strategies--Traders

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kaye Thomas who wrote (511)	10/10/1998 5:46:00 PM
From: mod	Read Replies (1) of 1383

OK, here's a tougher one. Let's say I've been filing as a trader (gains on D, expenses on C). I set up a Medical Savings Account (MSA) last year and made some contributions. However, it appears the MSA worksheet on Form 8853 requires me to enter positive "net self-employment income" in order to generate an MSA deduction. So can I just plug a positive number in to the worksheet, or am I going to lose the deduction? And if I can't deduct the MSA contributions, what do I do with my MSA, close it quick to avoid the excess contributions penalty? I swear, I'll never wait this long to do my taxes again. (I say this every year, and always end up filing October 15!) Dennis

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next