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Is a 1099-SA required to complete a return? and what is this 1099-SA for? I don't recall ever getting one in the past.

This is a employer sponsored HSA and I'm not aware that we can contribute excess monies. Shouldn't I have recvd this form by now?
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Is a 1099-SA required to complete a return? and what is this 1099-SA for? I don't recall ever getting one in the past.

If you spent any money out of your HSA (typically for qualified medical expenses), then your HSA administrator (not your employer) is required to send you a form 1099-SA reporting on the distribution.

Yes, they should have sent it by now - unless you had no distributions in 2018, in which case you will not receive the 1099-SA. In this case, in TurboTax you would just skip entering it.

If you took any distributions from your HSA in 2018, go to your HSA administrator's website and see if your 1099-SA is available on their website, or call them and ask where it is.

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Is a 1099-SA required to complete a return? and what is this 1099-SA for? I don't recall ever getting one in the past.

If you spent any money out of your HSA (typically for qualified medical expenses), then your HSA administrator (not your employer) is required to send you a form 1099-SA reporting on the distribution.

Yes, they should have sent it by now - unless you had no distributions in 2018, in which case you will not receive the 1099-SA. In this case, in TurboTax you would just skip entering it.

If you took any distributions from your HSA in 2018, go to your HSA administrator's website and see if your 1099-SA is available on their website, or call them and ask where it is.

Is a 1099-SA required to complete a return? and what is this 1099-SA for? I don't recall ever getting one in the past.

For clarification, your employer does not sponsor your HSA. Your employer probably provides your HDHP insurance policy, but the HSA itself is totally separate, in a way similar to an IRA. And like an IRA, the HSA belongs to you, not to your employer - even if your employer helped you set the HSA up.

 

This means that when you leave your current employer, you do NOT have to cash out your HSA - in fact, it is a bad (and expensive) idea to do so.

 

You can continue to pay for qualified medical expenses from your HSA even if you no longer have HDHP coverage. And if you take a new job that also has HDHP coverage, then you can start contributing to the HSA again (you can't when you have no HDHP coverage).

 

Note that in this latter case, you do NOT have to create a new HSA with the new employer; you can still use and contribute to the old one. However, some employers won't send payroll contributions to any HSA but the one they help set up - in this case, just set up the new HSA. You can have multiple HSAs at the same time. (note that your annual HSA contribution limit is for the aggregate of all your HSAs).

 

If the fees are eating you up by having two HSAs, then call your old HSA custodian and ask to do a trustee to trustee transfer of the money in the old HSA to the new HSA; this action will have no tax consequence for you. Then, when the old HSA is empty, you can close it and start using only the new one.

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