Hello Community,
Normally, I love HSA's but suddenly I am despising them because I can't seem to figure out how to get qualified medical expenses into the system without a 1099-SA, and HSA's are in my next several sets of returns.
What in the world am I missing? 😉
Thank you, in advance, to whoever, has a moment to respond.
If its an HSA, and there were distributions taken, there WILL be a 1099-SA issued.
Many of my clients seem to have to go digging online to find these!
Thank you! So, these aren't required to be made available like a 1099-R? How do your client's find them?
Thanks again, Dawn.
they call the company that holds the HSA funds and asks them for it, I think lots of places put you on paperless automatically and they need to create a login/password for that site to access.....most of my clients if Ive seen one in the past, I have the company info, I just have them call and get the dollar amount on the phone.
What the HSA company asked:
"Wouldn't you like to avoid all that paper by going paperless?"
What they meant:
"We're not earning any interest on this money since the Fed cut rates because of Covid. We don't even want to send you the annual tax form you need, because postage is up to 60 cents and paper costs more also. So you will have to tattoo your password on your elbow and remember not to stick it in your ear. "
@Just-Lisa-Now- Some HSA custodians make the Form 1099-SA available online for download only. {No paper Form 1099-SA is mailed to the account holder.} I have to remind the client to go to their online account, download the 1099-SA, then forward it to me EVERY YEAR.
Yes, they are required. Any activity is reported, and your taxpayer also has access to statements, somewhere. They would go to the HSA bank; they would have a log in, so that they also can request reimbursements when they paid out of pocket. They should look at their HSA card.
Bob, laughing maniacally!
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