IRS Form 8889 Health Savings Accounts (Hsas)

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IRS Form 8889 Health Savings Accounts (Hsas)

What Is IRS Form 8889?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 8889?A: IRS Form 8889 is used for Health Savings Accounts (HSAs).

Q: What is a Health Savings Account (HSA)?A: A Health Savings Account (HSA) is a tax-advantaged savings account for individuals with high-deductible health plans.

Q: Who needs to file IRS Form 8889?A: Individuals who have contributed to or received distributions from an HSA in the tax year need to file IRS Form 8889.

Q: What information is reported on IRS Form 8889?A: IRS Form 8889 reports contributions, distributions, and other information related to Health Savings Accounts (HSAs).

Q: When is the deadline to file IRS Form 8889?A: IRS Form 8889 must be filed along with your annual tax return, typically due on April 15th.

Q: What are the penalties for not filing IRS Form 8889?A: Failure to file IRS Form 8889 may result in penalties and interest.

Q: Can I e-file IRS Form 8889?A: Yes, you can e-file IRS Form 8889 if you are filing your tax return electronically.

Q: Are HSA contributions tax-deductible?A: Yes, HSA contributions are tax-deductible.

Q: Are HSA distributions taxable?A: HSA distributions used for qualified medical expenses are tax-free, while distributions used for non-qualified expenses are subject to taxes and penalties.

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Form Details:

  • A 2-page form available for download in PDF;
  • This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 8889 through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 8889 Health Savings Accounts (Hsas)

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