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No, to get the corrected 1099-SA, you will need to ask your HSA plan administrator for a "Mistaken Distribution" form. Along with this form, you will need to send them the ~$40.
The HSA provider will send you the corrected 1099-SA, either now or for next year.
Have you already filed? If so, you'll want to amend your return so that your forms match what the IRS has (they get a copy of the corrected 1099-SA).
If you have not yet filed, then the easiest thing to do would be to file an extension, especially if you are getting a refund or you are pretty sure of what you will owe. Then when the corrected form comes in (probably in late April), you can file then.
[Edited 3/17/2020 4:25 pm CDT - made year neutral]
No, to get the corrected 1099-SA, you will need to ask your HSA plan administrator for a "Mistaken Distribution" form. Along with this form, you will need to send them the ~$40.
The HSA provider will send you the corrected 1099-SA, either now or for next year.
Have you already filed? If so, you'll want to amend your return so that your forms match what the IRS has (they get a copy of the corrected 1099-SA).
If you have not yet filed, then the easiest thing to do would be to file an extension, especially if you are getting a refund or you are pretty sure of what you will owe. Then when the corrected form comes in (probably in late April), you can file then.
[Edited 3/17/2020 4:25 pm CDT - made year neutral]
My HSA plan administrator has a "Distribution of Excess Contribution" form not a "Mistaken Distribution" form.
Is the "Distribution of Excess Contribution" form the same as the "Mistaken Distribution" from? Will both these forms solve my issue of a refunded payment that makes my gross distribution in inaccurate on my 1099-SA tax form?
@JRYNCHEK wrote:
My HSA plan administrator has a "Distribution of Excess Contribution" form not a "Mistaken Distribution" form.
Is the "Distribution of Excess Contribution" form the same as the "Mistaken Distribution" from? Will both these forms solve my issue of a refunded payment that makes my gross distribution in inaccurate on my 1099-SA tax form?
No, the forms are not the same. "Distribution of Excess Contribution" would be used if you contributed too much and need the excess distributed (paid) back to you. "Mistaken Distribution" is used when you withdraw too much (more than your actual medical expenses) and need to send it back. It might also be called "Distribution Reversal".
You can only reverse a distribution in the same calendar year. If you got a reimbursement for an overcharged medical expense that you paid from the HSA in a prior year, you can't return or reverse the distribution. You would instead report the reimbursement check as a "taxable recovery" on your tax return, that's a type of miscellaneous taxable income, because it represents a reimbursement of a previously tax-free item, the reimbursement is taxable.
OK, so here is my situation:
In January 2023 I received a $140 cash refund back to my HSA account for a medical procedure I had in 2022.
I have received my 2022 1099-SA form and due to the refund, my "gross distribution" is a $140 more than I what I actually withdrew.
What do you suggest I do?
Would this be considered exceeding the maximum contribution limit for 2023 if I have already maxed out my 2023 contribution limit?
@JRYNCHEK wrote:
OK, so here is my situation:
In January 2023 I received a $140 cash refund back to my HSA account for a medical procedure I had in 2022.
I have received my 2022 1099-SA form and due to the refund, my "gross distribution" is a $140 more than I what I actually withdrew.
What do you suggest I do?
How was the deposit made to the HSA account? By you or by the medical vendor? It is recorded as a contribution instead of a return? And is it recorded as a contribution for 2022 or 2023?
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