When filing your taxes, you are required to file IRS Form 8889 if you (or someone on your behalf, including your employer) made contributions to your HSA, or if you received HSA distributions for the year. For other conditions, see the IRS instructions for the 8889 Form.
How do I report employer contributions to my HSA?
File Form 8889 to:
- Report health savings account (HSA) contributions (including those made on your behalf and employer contributions).
- Figure your HSA deduction.
- Report distributions from HSAs.
- Figure amounts you must include in income and additional tax you may owe if you fail to be an eligible individual.
Report all contributions (employee, employer, and other third-party contributions) to your Fidelity HSA on IRS Form 8889, “Health Savings Accounts (HSAs),” and file it with your IRS Form 1040. You should include all contributions made for 2020, including those made by the tax-filing deadline.
Do HSA contributions need to be reported?
You must report contributions from your HSA on IRS Form 8889. Get 5498-SA information here. There’s a sample 5498-SA form from the IRS here.
Where do employer contributions show up on form 8889?
Contributions through payroll deductions show up on line 9 — employer contributions to HSAs. The other confusing part of this section has to do with line 3 — your contribution limit for the year.
Where is Line 6 on the 8889 tax form?
Drake Tax does not make that calculation; you must decide how to split the deduction. Line 6 of Form 8889 is a component of the HSA deduction that appears on line 13. Line 6 is the amount on line 5 unless “you and your spouse each have separate HSAs and had family coverage under an HDHP at any time during 2018” (Form 8889).
How does form 8889 work for an HSA?
In addition to accounting for contributions, Form 8889 helps you keep track of your HSA distributions. Line 14a shows your total distributions from an HSA. This is the amount of money you take out from an HSA in a given year. For example, if you have cancer and need to withdraw $12,000 from your HSA, line 14a will show $12,000.
How many form 8889’s can you use per person?
Only one Form 8889 is allowed per person. Back to top. In a joint return where both spouses have an HSA, one spouse has family coverage and the other self-only coverage, does Drake calculate how the HSA deduction is split between them? Drake Tax does not make that calculation; you must decide how to split the deduction.
