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Medical Savings Account Contributions
You may contribute up to $2,000 ($4,000 if married filing a joint return) to an Idaho medical savings account and deduct the contribution. Deductible contributions do not include reimbursements that were redeposited into your Idaho medical savings account. Do not include amounts deducted on line 36, federal Form 1040. An Idaho medical savings account is generally established with a bank, savings and loan, or credit union. The account is established to pay eligible medical expenses of the account holder an the account holder's dependents. Interest earned on the account is included, but only if included on Form 40. Add your qualifying contributions to the interest earned on the account. Enter the name of the financial institution and your account number in the spaces provided.
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