HSA Entries

mborja — Tue, 03 Mar 2020 22:04:27 GMT

I am having a difficult time understanding the HSA section of the tax form. I entered the amount contributed to my (our family) HSA account but it seems I also need to enter the event of each transaction against the HSA account. There are 36 transactions against our HSA for 2019. Am I suppose to list each one? Any help is greatly appreciated.

Re: HSA Entries

BillM223 — Tue, 03 Mar 2020 22:34:31 GMT

First, a technical clarification - the HSA belongs to either you or your spouse (in fact, you could each have an HSA). There is no such thing as a Family HSA. It's the HDHP policy that can give you Family coverage.

There are two basic types of transactions for your HSA: contributions and distributions. The contributions done through your employer are entered on the W-2 in box 12 with a code of W. All such contributions through the year are lumped together.

If you made "personal" contributions (i.e., NOT through the employer but directly to the HSA), then you lump all of these together and make one entry on the screen entitled "Let's enter [name]' HSA contributions".

The distributions (amount you paid for qualified medical expenses) are similar in that they are lumped together. You should have received a form 1099-SA from the HSA custodian containing all the distributions for the year. Note that there are reasons that you might receive more than one 1099-SA, but that would be only two such forms.

If you have not received your 1099-SA for all your medical expenses, then please go to your HSA custodian's website and see if the form is available online (it often is). Otherwise, just ask a customer service rep.

As you can see, there is no need (or way) to itemize all your transactions from your HSA.

Re: HSA Entries

mborja — Wed, 04 Mar 2020 01:08:56 GMT

BillM223, Thank you so much for your clear clarification.

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HSA Entries

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