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Form 8853 UT: What You Should Know

You must then file Form 8853 to determine the amounts to be included or excluded from income for the applicable taxable year. Your annual filing may be due by April 15th of the following year, as shown in Table 1 of Chapter 5, Publication 15 and Section 5. The calendar year for the taxable year is January through April. You'll need to determine whether the payments you received during this year are subject to Form 8853. What should I do? A deduction/ exclusion will not take effect until the month following the end of the taxable year(s). So the amounts reported on the Form 8853 for the month(s) of payment are the first to be shown as an itemized deduction. This may or may not be correct. Your Form 8853 is due by April 15 of the following year. What to do if you're making payments by February 1 – April 15. Filing Form 8853 on any day during the following month(s) is the only method of recording information on that payment date. This will allow the deductions/ exclusions to be applied to the amount due (or deemed due) on your Form 1040, or as a result of the subsequent amendments in your return. Note: Filing on February 1 is not required even if you have already filed Form 1040-US, Form 1098-T or Form 1098-EZ. Where to file form 8853 You can file Form 8853 and enter the amounts in the applicable box. To access the applicable box, just follow the directions on the form. However, do not put all the amounts paid or amounts received on the form. Put only those amounts that are reported in box “C” (described in more detail in this issue). The following instructions describe ways to enter the amounts in a box “C”; for example, when you're paying a qualified employer pension and the amounts include: Qualified employer pension and/or other retirement compensation received on the date you made contributions to your Archer MSA; Eligible employer retirement plan contributions paid or to be contributed to your Archer MSA; Payments from your Archer MSA to any qualified organization listed on line 12 of Form 4562 (Eligible Organization Identification Number); Payments from your Archer MSA for qualified disaster assistance payments; or Payments from your Archer MSA for qualified tuition assistance payments.

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