Form 8853 for Georgia 2023-2024

Form 8853 for Georgia: What You Should Know

Medicare program and the type of benefits for which you receive the payments, you may be eligible to receive a credit  not to exceed the greatest of the amounts reported in your income tax return for Medicare reimbursement for long-term care  medical expenses, or 50% of the amount of the payment you received for such expenses. The credit allowable under Section  C, above, starts the month the credit is declared. The total credit allowed by section C, above, is 800,000 for 2024 for all Medicare  employees, except: (1) a hospital manager or physician, (2) an ambulance driver, (3) a self-medicating individual who uses  Medicare for health care, (4) an individual who is married and has dependent children, (5) an individual who receives  Medicare for health care under a dependent spouse's enrollment, and (6) an individual who receives Medicare  overpayments for the purpose of establishing a deficiency. Note: All the credit allowed by section C, above, includes any amounts you are  receiving that are not subject to gross income tax withholding. To enter in Taxpayer Pro, from the Main Menu of the tax return, select: Adjustments. If a hospital or nursing home manager who is self-employed receives payments through this Medicare program, he  is included in the employer group filing status and is considered to be an employee (rather than an  independent contractor), the Medicare program will be reported to the employer if he works for the  hospital management company/self-employed, and the wages reported may be subject to Medicare tax withholding  based on the wages reported to the employer and the self-employed payment received. If a self-employed individual that is married to a hospital manager and owns property is self-employed and  received payments from Medicare programs for property and services, he is included in the employer group filing status and is  permanently considered an independent contractor. The Medicare program will be reported to the employer for taxes paid  to the Department of Revenue. Payments for services will report to Medicare only for long-term care services and home health services  provisions. Payments will report to the hospital administrator and not to the hospital manager. To enter in Taxpayer Pro Support, from the Main Menu of the tax return, select: Adjusted.

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