Why are you bugging me about my Health Savings Accounts (HSA)?

Why are you bugging me about my Health Savings Accounts (HSA)?

Do you have a Health Savings Account through your job?  If you do, the amount contributed to the plan for the year will be reported on your W-2.  This gets reported on your tax return.

Did you USE your HSA this year?  If so, you should receive a 1099-SA from the bank that holds your account.  It will show you how much you spent.  I need that 1099-SA to complete your return.

If you didn’t use your HSA, that is fine.  We will just report $0 spent on your return.  But that 1099-SA goes to the IRS as well.  If we don’t report the amount reported on the 1099-SA correctly, the IRS assumes that the difference was spent on non-medical stuff, and they will send you a bill.  And then I will bill you for correcting the mistake.

So get me your 1099-SA!

 

 

By |2023-12-15T13:53:21-05:00December 15th, 2023|Comments Off on Why are you bugging me about my Health Savings Accounts (HSA)?

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