Jan 23, 2025 · Information about Form 8889, Health Savings Accounts (HSAs), including recent updates, related forms and instructions on how to file. Form 8889 is used to report activity in a health savings account.

Access your Form 1099, Form 5498, and Form 8889 to get the tax-saving advantages of your HSA. Refer to your W2 for HSA contributions.

Before you begin: Complete Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, if required. Part I HSA Contributions and Deduction. See the instructions before completing this part. If you are filing jointly and both you and your spouse each have separate HSAs, complete a separate Part I for each spouse.

Report health savings account (HSA) contributions (including those made on your behalf and employer contributions), Figure your HSA deduction, Report distributions from HSAs, and. Figure amounts you must include in income and additional tax you may owe if …

Mar 6, 2024 · If you contribute to an HSA, or take a distribution, you need to complete and file IRS Form 8889 with your tax return. You have until April 15, 2024, to make contributions to your HSA for 2023, up to the applicable annual limit.

Mar 13, 2024 · If you have a health savings account (HSA), you’ll receive tax forms from your HSA provider to show how much you’ve contributed and withdrawn from your account. Be on the lookout for Form 1099-SA to report HSA distributions and Form 5498-SA for contributions.

From tax advantages and guidelines to forms and filing information, here are important links to the IRS information you need to make the most of your HSA. For a full list of IRS forms, notices and publications, please visit IRS.gov. Forms you will receive from HSA Bank:

Oct 16, 2024 · Before you can deduct your contributions to a health savings account (HSA), you must prepare IRS Form 8889. You can use funds from your health savings Account (HSA) to pay for qualified medical expenses, making it a valuable tool for managing healthcare costs.

Because your health savings account is potentially tax advantaged, the IRS requires that you report contributions and distributions on your tax return. We’ll mail you both forms, but you can always access them on the member website: “Message Center” > “View Statements” > “HSA Tax Statements.” Form 1099-SA.

An HSA offers triple tax savings. Pre­tax or tax deductible contributions; Tax-­free interest or investment earnings; Tax-­free distributions, when used for qualified medical expenses