Get Irs 8853 2022-2025

Filling out the IRS Form 8853, which is related to Archer Medical Savings Accounts and Long-Term Care Insurance Contracts, can seem daunting. This guide will help you navigate the online process with clear, step-by-step instructions tailored to your needs.

Follow the steps to complete the IRS 8853 online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering your name(s) as shown on your tax return and your social security number in the designated fields at the top of the form.
3. Proceed to Section A, if applicable. If you have only a Medicare Advantage MSA, skip this section. Otherwise, complete Part I by reporting contributions to your Archer MSA, including employer contributions and your own contributions, ensuring to refer to the instructions as needed.
4. In Part I, after completing the fields for contributions, calculate your Archer MSA deduction and enter the smallest of the relevant items from the specified lines. This deduction also needs to be reported on Schedule 1 of Form 1040.
5. Continue to Part II, which pertains to Archer MSA distributions. Enter the total distributions received, any amounts rolled over, and calculate your taxable distributions by referencing the instructions.
6. Move to Section B if you received Medicare Advantage MSA distributions. Similar to Part II, report relevant figures and follow the instructions for any additional taxes or exceptions.
7. Next, complete Section C regarding Long-Term Care Insurance Contracts. Fill in details regarding the insured, any payments received, and calculate the taxable portions, referring to the instructions for guidance.
8. Review all entered information for accuracy. Ensure all calculations are correct according to the provided guidelines.
9. Once satisfied with the completed form, you can save your changes, download it for your records, print a hard copy, or share it as needed.

Take action now to complete your IRS Form 8853 online without delay.