Form 5498 sa-2025

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The document is a Form 5498-SA, which reports contributions made to Health Savings Accounts (HSA), Archer Medical Savings Accounts (MSA), and Medicare Advantage MSAs for the years 2021 and 2022. It includes details such as total contributions, rollover contributions, fair market value of accounts, and instructions for both participants and trustees regarding tax deductions and reporting requirements.

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Click 'Get Form' to open it in the editor.
Begin by entering the trustee's name, address, and contact information in the designated fields. Ensure accuracy as this information is crucial for IRS records.
In Box 1, input the employee or self-employed person's Archer MSA contributions made in 2021 and through April 18, 2022. This amount may be deductible on your tax return.
Fill out Box 2 with the total contributions made in 2021 to your HSA or Archer MSA. This includes any qualified HSA funding distributions.
For Box 3, enter the total HSA or Archer MSA contributions made in 2022 for the year 2021.
Complete Box 4 with any rollover contributions from an Archer MSA or HSA.
In Box 5, indicate the fair market value of your account at the end of 2021.
Finally, review all entries for accuracy before saving your work. You can print, download, and share the completed form directly from our platform.

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Versions	Form popularity	Fillable & printable
2023	4.5 Satisfied (21 Votes)
2022	4.3 Satisfied (30 Votes)
2021	4.8 Satisfied (222 Votes)
2020	4.4 Satisfied (62 Votes)
2019	4.1 Satisfied (57 Votes)
2018	4.2 Satisfied (65 Votes)
2017	4.2 Satisfied (40 Votes)
2016	4.3 Satisfied (244 Votes)

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Do I have to report 1099-SA on my tax return?

Do I have to report 1099-SA on my tax return? Yes, you must report it. You report information from Form 1099-SA on either Form 8853 or Form 8889. Youll get IRS Form 1099-SA for each HSA or MSA distribution you made in the current tax year.

What is the difference between 1099-SA and 5498-SA?

File Form 1099-SA to report distributions from an HSA. File Form 5498-SA to report contributions to an HSA. File Form 8889 to report your HSA contributions and distributions.

Do I enter 5498-SA in TurboTax?

No, you dont need to enter Form 5498-SA into TurboTax. The 5498-SA reports contributions to: Health Savings Accounts (HSA)

Do I have to report 5498-SA on my tax return?

The trustee of your HSA, Archer MSA, or MA MSA may provide other information about your account on this form. Note: Dont attach Form 5498-SA to your income tax return. Instead, keep it for your records.

What is a 5498-SA form used for?

Form 5498-SA is a document that reports contributions made to a Health Savings Account (HSA), Archer Medical Savings Account (Archer MSA), or Medicare Advantage Medical Savings Account (MA MSA). This form must be sent to both the Internal Revenue Service (IRS) and the respective account holders.

form 5498 sa

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Do I have to report form 5498 on my tax return?

No. You arent required to do anything with Form 5498 because its for informational purposes only.

Why did I get a 5498 instead of a 1099?

Your financial institution reports all contributions to an IRA for the current tax year to the IRS. This includes rollovers. It uses Form 5498 for this purpose. This includes contribution amounts to a SEP IRA, Roth IRA, SIMPLE IRA, or traditional IRA.

Can I use a 5498-SA instead of a 1099-SA?

The IRS Form 1099-SA is used for reporting HSA distributions; the IRS Form 5498-SA is used for reporting contributions. If you did not have contributions during the year, then you will not see the IRS Form 5498-SA. Although HSAs have triple-tax advantages, you are required to report distributions to the IRS.