Tax Reporting for Health Savings Account

January 1, 2010

Q: Do you have to do anything at tax time with the 1099A form you get for your Health Savings Account?

A: Yes, Health Savings Account (HSA) owners are required to file Form 8889 with their tax return if there has been any activity in their HSA account for the year and the information on the 1099A should match up with the information you file on your return. If there is any discrepancy, it is best to resolve this now with the HSA administrator rather than wait until the IRS generates an audit letter due to the automated data matching programs that are highly efficient in detecting mis-matching data reported on Form 1009As. IRS publishes instructions at http://www.irs.gov/pub/irs-pdf/i8889.pdf.

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