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Hi! I have some money in my old HSA account which I used for qualified medical expenses last year. I did not have an HSA coverage last year. I received a refund from a provider that went directly to the payment card i.e. the HSA card. Now, I received a form 5498-SA with the refunded amount as a contribution and the same amount is included in the 1099-SA also as distribution. How do I file it correctly with the tax returns? Please advise. Thanks!
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To enter the reimbursement to your HSA account in TurboTax, follow these steps:
Form 5498-SA reports contributions to your Health Savings Account (HSA), Archer MSA, or Medicare Advantage MSA.
You don't enter this form into TurboTax; your account custodian only sends it to you for informational purposes. We recommend that you keep it with your tax return records.
For more information, see the link below:
Contact the HSA to obtain corrected Forms 1099-SA and 5498-SA. Because they accepted a return of mistaken distribution, they are required to reduce the amount in box 1 of the code-1 Form 1099-SA by the amount returned and they are not to show it at all on Form 5498.
In which box of the Form 5498 did they report the returned amount?
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