Question

Asking for Form 5329-T info: value of HSA at end of year. I do not have that form. I can find that info on Form 5498-SA on my HSA Optum Bank online. Use this value there?

Forum|Forum|7 years ago
June 4, 2019
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TurboTax Deluxe Online

Yes, box 5 on the 2017 5498-SA is the value of your HSA on December 17, 2017.

The 5329 is asking for this amount because you are being assessed a penalty for an excess HSA contribution, which is 6% of the smaller of the excess or your HSA value at the end of the year.

The 5329 is not mailed to you; it is generated automatically by TurboTax as part of the penalty processing.

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H

hermancox03Author

What about needing to file IRS form 8889 with your income taxes to report contributions and distributions from your health savings account. Where do I enter this and find that form?