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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16540
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I set up a health reimbursement arrangement for my business

Customer Question

I set up a health reimbursement arrangement for my business and paid out payments for health related reimbursement in tax year 2012. I would like to know when my corporate return is completed where on the return should I see the HRA payments paid out listed on which section of the 1120s.
Submitted: 3 years ago.
Category: Finance
Expert:  Megan C replied 3 years ago.
Thank you for your question, and thanks for using JustAnswer.com

I would place your contribution to the HRA on line 18 Employee Benefit Programs on your 1120S. Please let me know if you need any additional information. You can view an 1120S, HERE.

Thank you again for using JustAnswer.com and have a happy, and safe, 2013.

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You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.

Customer: replied 3 years ago.

should the different items be itemized out for reimbursement or should the total be listed only without indicating that it is a HRA

Expert:  Megan C replied 3 years ago.
Thanks for your follow up. You will attach a statement to your tax return that itemizes this line, so if there are multiple benefit items, the amount would be separately stated.

Please let me know if you need anything additional. Thanks again for using JustAnswer.com and have a happy, and safe, 2013.

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site*

Customer: replied 3 years ago.

the separate statement would itemize the reimbursement paid out I would assume like: Health insurance premium, prescription medications, dental, eyeglasses, dental plan etc. is this correct?

Expert:  Megan C replied 3 years ago.
Thanks for your follow up. You could itemize like that, if you wanted that much detail.

Please let me know if you need anything additional. Thanks again for using Justanswer.com and have a happy, and safe, 2013.

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site*

Expert:  Megan C replied 3 years ago.
Thanks for allowing me the opportunity to help you. Please let me know if I can be of any further assistance to you in this matter. Also if you ever need anything else in the future please Simply enter "MyVirtualCPA" in the subject of your question Thanks again for being a JustAnswer customer
Expert:  Megan C replied 3 years ago.

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