Ark. Code R. 26-51-436 - 1(7) (1997) - Medical Savings Account (msa) - Taxability of Account Distributions

26-51-436 - 1(7) - Medical Savings Account (msa) - Taxability of Account Distributions
26-51-436 - 1(6) - Medical Savings Account (msa) - Taxability of Account Earnings26-51-436 - 2(5) - Medical Savings Account (msa) - Eligibility

Distributions from an MSA that are used to pay the *qualified medical expenses of an individual or the individual's spouse or dependents are excludable from gross income. IRC Sec. 220(f)(1).

*"qualified medical expenses" are any expenses for medical care as defined under the rules relating to the itemized deduction for medical expenses. See IRC Sec. 220(d)(2)(A).

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