A lot of these events are reportable even though they will not have a tax impact. That is to say, you want to make sure you have the forms and are reporting them correctly, but they should not change the bottom line of the amount you receive as a refund or owe in taxes.
- Rollovers of retirement accounts should be reported to you on a Form 1099-R from your former administrator. The exact method of reporting will depend on whether it is a direct or indirect rollover, but neither will impact your taxes. This is also the case with the beneficiary IRA.
- The rollover from your HSA will be reported on a 1099-SA from your old HSA with a distribution code of 1. When asked in TurboTax, you will want to say the amount of this distribution you used for medical expenses if any, and the amount you rolled over into your new HSA.
- Contributions to HSAs and retirement accounts will be reported on Box 12 of your W-2s. HSA contributions are reported with a Code W, and retirement account contributions either with a Code D, E, F, G, H, AA, or BB depending on what kind of plan it is. D should be used for a regular (non-Roth) 401(k). If you had separate contributions to your HSA that you made out-of-pocket, this would be reported on a 5498-SA from your HSA, but you often do not get that form until after filing season because they can include contributions made up to the filing deadline. You can rely on your own records for out-of-pocket contributions.
- The distribution from the beneficiary IRA will also be reported on Form 1099-R and this one will be taxable. The distribution code in Box 7 should be a 4 and the taxable amount will be indicated if it is different than the amount of the entire distribution.
5498 forms are for your information only and generally not released until after the filing deadline. They are not furnished to the IRS.
