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Usually, taxation is pretty cumbersome. The importance of the event puts some pressure on the individual, and completing the form can be challenging. Each character in the Form 8889 for 2024 matters at such a crucial moment, so completing a printed out form may take much more time and effort than an electronic one. To make this process more efficient, use DocHub and complete your taxation year effortlessly.

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A distribution from your traditional IRA or Roth IRA to your HSA in a direct trustee-to-trustee transfer is called an HSA funding distribution. Note that these funds are not being distributed from your HSA, but rather are being distributed from your IRA and contributed to your HSA.
Can my HSA be used for anything other than qualified health care expenses? One benefit of the HSA is that after you turn age 65, you can withdraw money from your HSA for any reason without incurring a tax penalty. You are, however, subject to normal income tax on any non-qualified withdrawals.
The IRS recently released Form 8889, Health Savings Accounts (HSAs), and the related instructions. Form 8889 is used to report HSA contributions, figure HSA deductions and report HSA distributions.
Form 8889 is also used to calculate HSA deductions and any reportable income and additional tax triggered by taxable HSA distributions, or failing to remain HSA-eligible throughout the applicable testing period for purposes of qualified HSA funding distributions or the full-contribution rule (referred to as the last-
Usually, your HSA contribution is reported in box 12 of your W-2 with the code W (Company Contributions to Health Savings Account). TurboTax automatically records this amount in the 1099-SA, HSA, MSA section. Code W reports the combined HSA contributions from you and your employer.
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You must file Form 8889 if any of the following applies. You (or someone on your behalf, including your employer) made contributions for 2023 to your HSA. You received HSA distributions in 2023. You must include certain amounts in income because you failed to be an eligible individual during the testing period.
Because your health savings account is tax advantaged, the IRS requires that you report contributions and distributions on your tax return. Well mail you both forms, but you can always access them on the member website: Message Center View Statements HSA Tax Statements.
Go to .irs.gov/Form8889 for instructions and the latest information.

form 8889 2023