Get 2014 Form 5498-sa - Internal Revenue Service - Irs

Form 5498-SA reports your annual contributions to these tax-free accounts that you use to pay for medical expenses. Contributions to similar accounts, such as Archer Medical Savings Accounts and Medicare Advantage MSAs will also warrant a Form 5498-SA. This form must be mailed to participants and the IRS by May 31.

While IRS form 1099-SA tracks disbursements from Health Savings Accounts (HSA) and Medical Savings Accounts (MSA), form5498-SAtracks contributions to those same accounts. This is an informational form only and doesn't need to be filed with your income tax return.

Form 5498: IRA Contributions Information reports your IRA contributions to the IRS. Your IRA trustee or issuer not you is required to file this form with the IRS, usually by May 31. You won't find this form in TurboTax, nor do you file it with your tax return.

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 sends it to you for informational purposes only. We recommend that you keep it with your tax return records.

The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, required minimum distributions (RMDs), and the fair market value (FMV) of the account.

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 sends it to you for informational purposes only. We recommend that you keep it with your tax return records.

Medicare Advantage (MA) MSA. File Form 8889 or Form 8853 with your Form 1040 or 1040-SR to report a distribution from these accounts even if the distribution isn't taxable.

How are my employer's contributions reported? Your employer's HSA contributions are reported on your W2, and are also included as part of the total account contributions listed on form 5498-SA.

You don't need to enter information from your Form 5498 (IRA Contribution Information) into TurboTax - generally you will find the information you need to enter into your return about your IRA contributions on Form 1099-R. there is no filing requirement for Form 5498 - just retain it for your records.