PA-40 Schedule O: 2024 PA Schedule O - Other Deductions (PA-40 O) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
PA-40 Schedule O reports deductions for contributions to Medical Savings Accounts, Health Savings Accounts, IRC Section 529 Qualified Tuition Programs, and the IRC Section 529A Pennsylvania ABLE Savings Program. It calculates the total other deductions entered on Line 10 of your
Who files this form
Complete and include Schedule O with your 2024 PA-40 if you or your spouse made contributions to any of these accounts and want to claim a deduction on PA-40 Line 10:
- Medical Savings Account.
- Health Savings Account.
- IRC Section 529 Qualified Tuition Program.
- IRC Section 529A Pennsylvania ABLE Savings Program.
If you discover an increase or decrease in these deductions after filing, include an amended Schedule O with Schedule PA-40 X. Explain the change in Section III on Page 2 of Schedule PA-40 X.
When it's due
For tax year 2024, include only Section 529 and Pennsylvania ABLE contributions made through Dec. 31, 2024.
Contributions made after Dec. 31, 2024, and before April 15, 2025, may only be included on the 2025 return. This is a contribution timing rule, not a stated filing deadline for Schedule O.
What you'll need
Have the following information and any required attachments ready:
- The taxpayer's name and Social Security number. For a joint return, use the name and Social Security number shown first on the PA-40.
- Each Section 529 or Pennsylvania ABLE beneficiary's name, Social Security number, and contribution amounts, separated by taxpayer and spouse.
- Medical Savings Account and Health Savings Account contributions allowed for federal income tax purposes.
- Total income reported on PA-40 Line 9, calculated separately for the taxpayer and spouse.
Required attachments:
- If claiming a Medical Savings Account or Health Savings Account deduction, include copies of Pages 1 and 2 of federal Form 1040 and Form 1040, Schedule 1, with your PA-40.
- If claiming deductions for more than 10 Section 529 beneficiaries, include a statement listing each beneficiary's name, Social Security number, and deduction claimed by the taxpayer and/or spouse.
- If claiming deductions for more than three Pennsylvania ABLE beneficiaries, include a statement listing each beneficiary's name, Social Security number, and deduction claimed by each contributor.
How to file
Include your completed Schedule O with your originally filed PA-40 when claiming these deductions.
On Schedule O, calculate the deductions separately for the taxpayer and spouse. Add Lines 2, 4, 5, and 6 on Line 7. Enter each person's PA-40 Line 9 income on Schedule O Line 8, then enter the smaller of Lines 7 and 8 on Line 9 for each person.
Add the Line 9 amounts together. Enter the total on Schedule O Line 10 and on PA-40 Line 10.
For a correction after filing, include an amended Schedule O with Schedule PA-40 X and explain the change in Section III on Page 2 of Schedule PA-40 X.
Common mistakes
- Counting contributions in the wrong year: Section 529 and Pennsylvania ABLE contributions made after Dec. 31 cannot be included on that tax year's return.
- Leaving out a refund donation: Include any Section 529 contribution reported and made from the immediately preceding tax year's PA-40 Schedule P.
- Exceeding the Section 529 limit: Do not enter more than $18,000 per beneficiary in either the taxpayer or spouse column.
- Overlooking Pennsylvania ABLE limits: Contributions to any one account from all contributors combined cannot exceed $18,000. A contributor's total contributions across one or more accounts also cannot exceed $18,000.
- Reporting income totals that do not match: The separate taxpayer and spouse amounts on Schedule O Line 8 should add up to PA-40 Line 9.
Questions people ask
Whose name goes on a joint Schedule O?
Use the primary taxpayer's name and Social Security number, shown first on the PA-40, even if only the spouse is claiming deductions.
Should I enter cents?
No. Use whole dollars. Drop amounts below $0.50 and round amounts of $0.50 or more up to the next dollar.
Can my deduction exceed my reported income?
Schedule O Line 9 uses the smaller of your total deductions on Line 7 or your income on Line 8. Make this comparison separately for the taxpayer and spouse.
What extra forms are required for Medical Savings Account or Health Savings Account deductions?
Include copies of Pages 1 and 2 of federal Form 1040 and Form 1040, Schedule 1, with your PA-40.