Announcement

Collapse
No announcement yet.

Filing a paper 1040 return

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Filing a paper 1040 return

    Customers (MFJ) each received a 5498-SA from their Archer MSA. My software says having 2 of these makes them ineligible for e-filing.
    Is there a transmittal form required to be submitted along with their paper returns ? If so, what form #.
    Thanks for comments.
    Tags: None
    #2
    Form 8948 with explanation for nor e-filing. Your state return may have such a form also.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

    Comment

      #3
      It seems a little silly that IRS allows 2 HSA forms but not 2 MSA 5498-SA forms for e-filing.
      These customers have substantial returns with many forms & schedules. Substantial refunds are also involved.
      To have to create a paper return for each of the two tax authorities & have their refunds delayed is sure a pain in the rear.
      I'm almost tempted to ignore one of the 5498-SA's. It only has $ 100 or so on it & the distribution had been made for qualifying medical expenses.
      If the 5498-SA for $ 100 is ignored, the returns could then be e-filed. What would be the worst thing that could happen ?
      An IRS CP-2000 on this could be easily handled - if they would even bother to send one for this small amount.
      What say my fellow preparers ?

      Comment

        #4
        Did you check with your software support re e-filing two MSA forms? Can you e-file the state(s)?

        Comment

          #5
          I did check with my software provider, TAXWISE. They won't let me do this on the Federal return.
          Possibly could file the state separately, though. I'll look into that.
          Thanks Lion

          Comment

            #6
            Originally posted by RWG1950 View Post
            It seems a little silly that IRS allows 2 HSA forms but not 2 MSA 5498-SA forms for e-filing.
            It seems a little silly that Archer MSAs even still exist. I can understand why valuable IRS resources should not be spent updating efile input for a dead-end tax benefit. Shouldn't there be some way to sunset the provision and allow/require people to either roll over or take a final withdrawal? New Archer MSAs haven't been allowed for years if not decades.

            Why don't you suggest your clients close out their Archer MSAs voluntarily?
            "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...
            X