Do I need to report a 1099-SA if I got a 1099-SA form? I don't want to upgrade to deluxe if I don't have to.

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I received a 1099-SA form for which I believe are HSA contributions. Turbotax won't let me report these contributions without upgrading to TurboTax deluxe. Is this something required to report?

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BillM223

To your question, yes, unless you want some negative repercussions, you want to report the 1099-SA.

The 1099-SA and 5498-SA are companion forms - the 1999-SA shows what distributions there were from your HSA and the 5498-SA shows what contributions you made to the HSA. The information for both of these end up on the form 8889.

The 8889 must be filled out if you want to (1) benefit from the tax break for contributions you made to the HSA, and (2) don't want to be taxed on the distributions. Otherwise you are very likely to get a letter from the IRS asking for some money, because without the 8889, they will assume that your entire distribution was spent on non-qualified expenses and tax you one them.

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davidchun2Author

Employee

So I've received a 1099-SA from Bank of America, but I have not received anything in the form of a 5498-SA. I'm surprised that I even received this 1099-SA from the Bank of America as I expect that form would've come from my insurance company or HSA issuer.