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Completing tax forms promptly might be messy, especially when one chooses to postpone the submission until the timeline. When it’s time to complete tax returns and submit flawlessly calculated conclusions, managing paperwork online is a big help. This process will be more simple with an suitable template of the Form 5498 and a streamlined editor to finish it in electronic format. This way, a tiny mistake will not cost you a printed blank, and you may correct everything before sending.

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Form 5498-SA reports contributions to your Health Savings Account (HSA), Archer MSA, or Medicare Advantage MSA. You dont 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.
Where does Form 5498-SA go on a tax return? Participants of an HSA, Archer MSA or MA MSA do not have to file Form 5498-SA with their individual income tax return. However, if distributions from any of these accounts were taxable, they should be noted on Schedule 1 of Form 1040, Part I, line 8e.
Sign in to your TurboTax account. Open or continue to your return. In the search bar, type ira contributions and select the Jump to link in the search results. Well take you to the Traditional IRA and Roth IRA screen, where you can start the IRA interview.
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.
You wont get a 5498-SA form if you didnt have contributions and your balance was zero dollars at the end of the year. You must report contributions from your HSA on IRS Form 8889. Get 5498-SA information in the If I dont have a 5498-SA, how can I get my contributions by tax year? question below.

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Form 5498 is for informational purposes only. You are not required to file it with your tax return. This form is not posted until May because you can contribute to an IRA for the previous year through mid-April. This means you will have finished your taxes before you receive this form.
Form 5498: IRA Contributions Information reports to the IRS your IRA contributions for the year along with other information about your IRA account. Your IRA custodiannot youis required to file this form with the IRS, usually by May 31. You wont find this form in TurboTax, nor do you file it with your tax return.