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Level 1
posted Feb 13, 2023 10:20:21 AM

How can I find out my HSA account balance from 2010 if I have no records?

0 4 476
4 Replies
Level 15
Feb 13, 2023 10:27:42 AM

Why do you think you need to know that?

Expert Alumni
Feb 13, 2023 10:35:16 AM

You can check your HSA balance by visiting the Member Website, where you will have secure, 24/7 access to your account balances and transaction history.

Level 1
Feb 13, 2023 1:09:51 PM

Looks like a worksheet for Wisconsin Schedule I. At this point, I'm not too worried. We only indicated the HSA distribution that our bank indicated.

Expert Alumni
Feb 14, 2023 6:50:54 AM

Yes, if you have an HSA and file a Wisconsin tax return, you will be asked this question. If you don't know for sure, don't answer the question. In most cases, it won't change your return.


The Health Savings Account (HSA) was created in 2003, but Wisconsin didn't adopt the federal tax rules about the HSA until 2011.


That means, if you had an HSA between 2003 and 2010 in Wisconsin, you were not allowed a deduction for Wisconsin for contributions to that account and you reported the earnings on the account as income.

 

In addition, if you had a balance in your HSA on December 31, 2010, these rules apply to that money:

  • The portion of the distribution that was used to pay medical expenses can be used as an itemized deduction when computing the Wisconsin itemized deduction credit.
  • Any portion of the distribution not used for medical expenses that is taxable for federal purposes is not taxable for Wisconsin. 
  • Any portion of the distribution that was not used for medical expenses that is subject to a federal penalty is not subject to a Wisconsin penalty.


Once you have taken out an amount equal to the HSA balance you had on December 31, 2010, these rules will not impact your state return any more.

 

Click here to learn more.