Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Marilyn is eligible to receive Medicare. If she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply

Sagot :

JeanaShupp

Answer: no tax penalty can be apply in this case.

Explanation:

Medicare is available for people age 65 or older .

If Marilyn is eligible to receive Medicare.

For a taxable HSA distribution, there is no tax penalty if a person aged more than 65 years receives a taxable HSA distribution.

So if Marilyn is eligible to receive Medicare, w assume that her age is more than 65.

Hence, no tax penalty can be apply in this case.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.