Respuesta :
Answer:
No tax penalty will apply with respect to the excess distribution
Explanation:
Data provided in the question:
Age of Justin = 66 years
Qualified medical expenses in 2019 = $6,000
Archer MSA distribution taken during the year = $8,000
Now,
No tax penalty applies to with respect to the excess distribution for an individual whose age is over 65 years on the records.
Here,
The age of Justin is 66 years i.e over 65 years.
hence,
No tax penalty will apply with respect to the excess distribution
No tax penalty will apply with respect to the excess distribution
Given that,
- Justin age is 66 years.
- Qualified medical expenses in 2019 = $6,000
- Archer MSA distribution taken during the year = $8,000
Based on the above information, the information is as follows:
- No tax penalty should be applied to the excess distribution for an individual whose age is over 65 years on the records.
Here in the given case,
The age of Justin is 66 years i.e more than 65 years.
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