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2023 Form 8889 . 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.
Use Form 8889 to: Report health savings account (HSA) contributions (including those made on your behalf and employer contributions),
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.
On September 29, 2023, the IRS released the 2023 instructions for Form 8889. Employees use this form to report HSA contributions and distributions. Of note are the mentions of the changes to HSA administration since the end of the COVID-19 emergency.
72. 3.6K views 5 months ago #HealthInsurance #Form8889 #HealthSavingsAccount. Individual taxpayers with a high deductible health insurance plan (HDHP) can use a Health Savings Account (HSA) to...
Form 8889 for 2023 HSAs – Contributions, Distributions, and Tax benefits. Learn eligibility rules and key considerations for health savings.
Form 8889 is the IRS form that helps you to do the following: Report contributions to a Health Savings Account (HSA). Calculate your tax deduction from making HSA contributions. Report distributions you took from the HSA (hopefully for eligible medical expenses).
Form 8889 is for people with high-deductible health plans to report Health Savings Account (HSA) contributions and distributions on their federal tax returns. TurboTax will automatically fill out Form 8889 if you: Contributed to an HSA. Carried over a prior-year excess contribution. Took a distribution. Inherited an HSA.
Instructions for Form 8889. Health Savings Accounts (HSAs) Section references are to the Internal Revenue Code unless otherwise noted. Future Developments. For the latest information about developments related to Form 8889 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form8889. What’s New.
File Form 8889 to: Report health savings account (HSA) contributions (including those made on your behalf and employer contributions). Figure your HSA deduction.