Form 1099-SA - Distribution From a Medicare Advantage MSA
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Medicare Part C (Medicare Advantage Plans) is another way to get your Medicare benefits. It combines Part A, Part B, and sometimes Part D (prescription drug) coverage. Medicare Advantage Plans are managed by private insurance companies approved by Medicare. These plans must cover medically necessary services.
Medicare C is reported on Form 1099-SA, Distributions from an HSA, Archer MSA, or Medicare Advantage MSA. The amount included in income is the amount not used to pay medical expenses. Generally, if you receive a taxable distribution, you must also pay an additional tax on the amount included in income. The additional tax for Medicare Advantage MSAs is 50%. See the SSA Who can get Medicare? publication for details.
To enter or review information from Form 1099-SA, follow the steps below.
Online
Dashboard
From within your TaxAct return, click Income.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Explore More drop-down.
Click Add beside Payments from an HSA or MSA (1099-SA).
Complete the rest of the interview process.
Classic
From within your TaxAct return, click Federal.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Other Income drop-down, then click MSA Distributions (Form 1099-SA).
Complete the rest of the interview process.
Desktop
From within your TaxAct return, click Federal.
Click the Other Income drop-down, then click MSA Distributions (Form 1099-SA).
Complete the rest of the interview process.
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