I was in an auto accident and paid medical bills with my Health savings account. I was later Reimbursed the funds but never put them back into my account. Will turbo tax offer a form to fill out so I can claim these funds?
You'll need to sign in or create an account to connect with an expert.
You have until the tax filing deadline (April 18, 2017) to repay amounts that you were reimbursed for by your insurance company. You would repay by depositing into your HSA account. This repayment is considered an adjustment to your HSA, not a contribution.
If you do not repay your HSA account, the amounts withdrawn that were reimbursed will be considered a non-medical distribution and will be subject to a 20% penalty tax. In Turbo Tax you would indicate no that you did not use the distribution for medical expenses. See screenshot below. The Turbo Tax program will calculate the penalty and complete the correct forms.
To answer HSA questions, go to the LESS COMMON INCOME section and select Start next to 1099-SA, HAS, MSA.
You have until the tax filing deadline (April 18, 2017) to repay amounts that you were reimbursed for by your insurance company. You would repay by depositing into your HSA account. This repayment is considered an adjustment to your HSA, not a contribution.
If you do not repay your HSA account, the amounts withdrawn that were reimbursed will be considered a non-medical distribution and will be subject to a 20% penalty tax. In Turbo Tax you would indicate no that you did not use the distribution for medical expenses. See screenshot below. The Turbo Tax program will calculate the penalty and complete the correct forms.
To answer HSA questions, go to the LESS COMMON INCOME section and select Start next to 1099-SA, HAS, MSA.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
matthew-wooley09
New Member
mlanelauderdale
New Member
carolmil223
New Member
courtgoodwin1
New Member
srvarnell
New Member