Interview Notes • Peggy Walker, age 48, is a single parent raising her son, Marc
ID: 2411878 • Letter: I
Question
Interview Notes
• Peggy Walker, age 48, is a single parent raising her son, Marcus . • Marcus is a full-time student and had no income . • Peggy qualifies to file as Head of Household. • For the last five years, Peggy has had family health coverage through a High Deductible Health Plan (HDHP) from her employer . • Peggy has had an HSA for several years . • In 2017, she contributed $1,500 to her HSA . • Peggy’s grandmother helped her out and contributed $1,000 to her HSA in 2017 . • Peggy’s employer also contributed $600 to her HSA in 2017 . • Peggy paid the following expenses in 2017 using money from her HSA: – Urgent care bill for Peggy - $615 – Prescription medicine for Peggy - $200 – Insulin for Marcus - $140 – Health club fees for Peggy - $175 – Doctor visits for Marcus - $500 • Peggy and Marcus are U .S . citizens and have valid Social Security numbers .
Explanation / Answer
$ 675.00
Amount Contributed in HSA Account Amount Peggy $ 1,500.00 Peggy's Grand mother $ 1,000.00 Peggy's Employer $ 600.00 Total Amount In HAS Account $ 3,100.00 Less: Amount Spent from HSA Account and are non taxable as per Federal Tax Urgent Care Bill of Peggy $ 615.00 Precription Medineces for Peggy $ 200.00 Inculin for Mercus $ 140.00 Total Expenses not liable for Federal Tax $ 955.00 Balance in "HSA" Account $ 2,145.00 Expenses incurred from "HSA" Account liable for Fedreal tax Health Club Fees $ 175.00 Doctor Visit $ 500.00$ 675.00
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