Question

HSA contributions in 2020 and distributions in 2021

Forum|Forum|5 years ago
February 14, 2021
2 replies
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I made an $8000 contribution to my HSA account in December 2020. I withdrew $8000 from my account in January 2021 for 2020 medical expenses. My HSA provider is not providing a 1099 SA or 5498 SA since I made no withdrawals in 2020, only contributions. Turbo Tax allows me to input 2020 contributions and distributions. Can I still make a 2020 deduction even though I didn't get a 1099 SA form or 5498 SA? T

M

Mike9241

since the distribution did not occur until 2021 that's the year to report it.

D

dmertz

Employee

The contribution, however, must be reported on your 2020 tax return. You'll get the Form 5498-SA later in 2021, after the regular filing deadline for your tax return, so you'll just make your contribution entry based on your personal knowledge of the contribution made for 2020.