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Health Savings Account (Hsa) - Form 8889 - Taxslayer Pro Support: What You Should Know
Do you have any other investments? When do I need to report my Medical Savings Account (MSA)? You need to see the total amount you deducted or received for the 2023 tax year on your 2017-18 Form 1040. You also need to see the amount or value of MSA contributions you made to your MSA (for 2023 only) on 2017-18 Form 1040, if these contributions were for medical use only. Do you need any further information because someone else contributed to your HSA/MSA? When do I need to report the amount of HSA contributions to 2017-18 Form 1040? Do you have any other investments? How will I know I need to report the 3,000 to 6,000 in additional MSA expenses? You also'll need to do this if you had a distribution, withdrawal or contribution for health care expenses that exceeded 3,000, 6,000, or 9,000. How will I know I need to report the HSA health care expense deduction? You also'll need to do this if you had an income deduction for 2023 based on your HSA expenses, and you withdrew funds for qualified medical expenses, or you paid more for qualified medical expenses you had received in 2023 that exceed 3,000, 6,000, or 9,000. How do I know if a return has been filed? Any return you have filed in the tax year must have one or more of the following information: Income taxes, and Amounts reported on line 2 of Form 8889 Are there any specific rules I need to know? If you have received a Form 1099-SA from your HSA/MSA, you must include only those amounts. If you received a Form 1099-A from your HSA/MSA, you will figure your health care expenses based on your total deductible expenses. Your health care expenses for 2023 need to be subtracted from your income in order for you to figure the amount in your HSA health care expense deduction, and must also be in amounts that are reasonable and within limitations described in the guidelines.
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