The FSA is pre-tax dollars used for medical expenses. Expenses are normally submitted for reimbursement through your third party FSA plan administrator. There is no tax impacts for submitting or receiving payments as spouse's salary has been lowered by the amount elected for the FSA.
The amounts paid through taxpayer's HSA are reported to you on 1099-SA with deposits reported through your W-2 with code W in box 12. These amount are also deposited to your HSA account with pre-tax dollars. Unless you doubled dip and paid the same healthcare expense from both plans, there is no additional reporting needed. You should have received the 1099-SA for any distributions made in 2020. After you have logged in and are in your return:
- Go to Search at the top of the screen.
- Enter Form 1099-SA in the search box.
- You will see a Jump To function that will take you to the 1099-SA input screens.
- Then add the 1099-SA in screens that follow.
There you will enter your HSA information. Again, no entries in TurboTax for the FSA.
