What is form 5498-sa

[AndreaC1]

Form 5498-SA reports contributions to your Health Savings Account (HSA), Archer MSA, or Medicare Advantage MSA.

But you do not enter this form into TurboTax; your account custodian sends it to you for informational purposes only. We recommend that you keep it with your tax return records.

[Heather14]

Form 5498-SA is used to report all amounts of employee contributions to a Medical Savings Account (MSA) or to a Health Savings Account (HSA). Form 5498-SA also includes the fair market value (FMV) of the MSA or FSA.

You don't need to enter information from your Form 5498 (IRA Contribution Information) into TurboTax like you do with a W-2 or 1099s. In most cases, you'll find the information needed for your return on other paperwork, such as a year-end summary statement or a Form 1099-R.

Keep Form 5498 with your records for future reference when you need to determine the end of year value or your investment basis in non-deductible or Roth IRAs.