Irs 5498 sa form-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), or Medicare Advantage MSAs for the years 2018 and 2019. 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 filing requirements.

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Click 'Get Form' to open IRS Form 5498-SA (2018) in the editor.
Enter the trustee's name, address, and contact information in the designated fields.
Fill in Box 1 with contributions made to your Archer MSA for 2018 and early 2019.
Complete Box 2 with the total contributions made in 2018 to your HSA or Archer MSA.
Input any rollover contributions in Box 4, if applicable.
Provide the fair market value of your account at the end of 2018 in Box 5.
Ensure all personal information is accurate, including your taxpayer identification number (TIN).
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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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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do I need to report 5498 on my tax return?

No. You arent required to do anything with Form 5498 because its for informational purposes only. Please be sure to keep this form for your records as youll need this information to calculate your taxable income when you decide to take distributions from your IRA.

Why did I receive a 5498 form?

When you save for retirement with an individual retirement arrangement (IRA), you probably receive a Form 5498 each year. The institution that manages your IRA is required to report all contributions you make to the account during the tax year on the form.

What is IRS form 5498 used for?

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, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account.

Does form 5498 qa need to be reported?

Keep this form in your records for future reference. Youre not required to file it with your tax return.

Why did I get a 5498 instead of 1099?

A direct rollover from a 401(k) to an IRA typically requires reporting on your tax return even if you dont receive Form 1099-R. Form 5498 confirms the IRA contribution but isnt filed with your return.

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Does form 5498-SA need to be reported?

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.

Do I need to report HSA contributions on my tax return?

Tax-deductible HSA contributions should be reported on Form 8889, Health Savings Accounts (HSAs) and filed with your Form 1040 or Form 1040NR. If you or your employer have made contributions to your HSA plan, make sure you reap the benefits on your tax return when you file.