Waiting on TurboTax for 8889-T; will it increase my refund?

[stephendonnelly88]

Hi, I should be done entering all my info into turbo tax. I have entered both my W2 and my form 1099-SA. For some reason, this year, turbotax is calculating that I won't be getting anything back (which may be related to the fact that I have less student loan interest to deduct, etc.).

However, TurboTax is saying that the form 8889-T wont be available until 1-28-2021. Is that form likely to increase my refund? The reason I ask is because I know it is somehow linked to my HSA. Thanks for your help.

[Opus 17]

Form 8889 is required if you have contributions (including via payroll deduction) or distributions (withdrawals) from an HSA.  If you don't report the activity correctly, you will get a tax assessment from the IRS.  Since the program has a draft version of the form, it probably won't change your tax when the form is finalized.

The IRS does not open e-filing until February 12, and any returns filed early will go into storage in turbotax's data warehouse, so there is no point in rushing to be early this year. 

[dmertz]

Even though Form 8889 has not yet been released for filing, 2020 TurboTax does prepare Form 8889 and include the results in the calculation of your balance due or refund as long as you have completed the HSA section to enter all of your information relating to HSA contributions and distributions.  There is no reason to believe that the results presently calculated on TurboTax's 8889 form will change once the form is released for filing.