Statutes, codes, and regulations
Arkansas Administrative Code
Agency 006 - Department of Finance and AdministrationDivision 05 - Division of RevenuesRegulation 1997-4 - Comprehensive Individual Income Tax Regulations
Rule 26-51-436 - MEDICAL SAVINGS ACCOUNTS
Rule 1.26-51-436(7) - Medical Savings Account (MSA) - Taxability of Account Distributions

1.26 Ark. Code R. 51-436(7)

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Current through Register Vol. 49, No. 9, September, 2024
Rule 1.26-51-436(7) - Medical Savings Account (MSA) - Taxability of Account Distributions

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).

1.26 Ark. Code R. 51-436(7)