Eli Posted February 9, 2009 Report Posted February 9, 2009 Client received a combined tax statement for forms 1098, 1099, 5498. It was a distribution from an HSA account. I have never worked with one of these before. Do I need to use form 8889 for this? Anything else in specific I may need to look for? Thank you!! Eli Quote
JRS Posted February 9, 2009 Report Posted February 9, 2009 You need to use 8889. In part II, fill in the amount of distribution on line 14a. Then on 15 put down the amount of unreimbursed medical expenses. That should cover what you need. Quote
Eli Posted February 9, 2009 Author Report Posted February 9, 2009 You need to use 8889. In part II, fill in the amount of distribution on line 14a. Then on 15 put down the amount of unreimbursed medical expenses. That should cover what you need. Thank you, JR!! Eli Quote
Terry D EA Posted February 9, 2009 Report Posted February 9, 2009 Eli, I know it has been a while ago that you posted this, but if you still need help, give me a call! I hope tax season is going well for you. Terry D. Quote
MikeTAX Posted March 25, 2009 Report Posted March 25, 2009 Can you give me a hand too? I have a cust making $130K told me that he just did the HSA $5800 contribution 2008 for his family. And, he provide me with amount $5800 along with EIN #, address. He said to me, there is no form from this HSA company where he made the contribution to, is it correct? If so, am I input form 8889 along with 1099-SA as well? On #8889, should I input part I & II or only Part I? I try to input part I #2, but on 1040 didsn't show the deduction which the customer is looking for this $5800 deduction on 1040 line #25 On #1099-SA: I should input as gross dist. $5800 right? How about the code # on box 3, #1? Thanks in advance for your help!!!! Mike Quote
JRS Posted March 25, 2009 Report Posted March 25, 2009 >>On #1099-SA: I should input as gross dist. $5800 right? How about the code # on box 3, #1?<< Unless I am reading you wrong, you would not fill out 1099-SA. This form is for a distribution FROM the HSA. You would only use part I for a contribution. Work through the worksheet carefully and it should come out at $5800 on line 25. AND check the box or boxes that apply. Quote
JRS Posted March 25, 2009 Report Posted March 25, 2009 Also make sure the client has a high deductible health plan and no other health insurance - there are a few exceptions to this part. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.