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), or Medicare Advantage MSAs for the years 2020 and 2021. 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 contributions made to your Archer MSA for 2020 and through April 15, 2021. This amount may be deductible on your tax return.
Fill out Box 2 with the total contributions made in 2020 to your HSA or Archer MSA. This includes any qualified funding distributions from an IRA.
Complete Box 3 with total HSA or Archer MSA contributions made in 2021 for the year 2020.
If applicable, enter any rollover contributions in Box 4. This should not be included in previous boxes.
In Box 5, indicate the fair market value of your account at the end of 2020.
Finally, review all entries for accuracy before saving. 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 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 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.

What is the difference between a 1099 and a 5498?

Form 1099-R discloses both full and partial retirement distributions, including rollover contributions, and any taxable amounts. Form 5498 reports IRA contributions, amounts rolled over from other types of retirement accounts to your IRA, RMDs, and the FMV of the account at the end of the previous tax year.

Where does form 5498 get reported?

Form 5498 reports IRA contributions, rollovers, Roth IRA conversions, and required minimum distributions to the IRS. Your IRA trustee or custodian is the one responsible for mailing Form 5498 to the IRS, along with a copy to you.

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)

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Do I need to amend my tax return for a 5498?

You dont file Form 5498 with your tax return, but keep your copy for your records and to ensure accurate reporting on your tax return.

Do I need to enter form 5498 on TurboTax?

You dont need to enter information from your Form 5498 (IRA Contribution Information) into TurboTax like you do with a W-2 or 1099s. In most cases, youll find the info needed for your return on other paperwork, such as a year-end summary statement or a Form 1099-R.

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.