Instructions for IRS Form 8889 Health Savings Accounts (Hsas)

IRS Form 8889 Health Savings Accounts (Hsas)

This document contains official instructions for IRS Form 8889 , Health Savings Accounts (Hsas) - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8889 is available for download through this link.

FAQ

Q: What is IRS Form 8889?
A: IRS Form 8889 is a tax form used to report contributions and withdrawals from Health Savings Accounts (HSAs).

Q: Who needs to fill out IRS Form 8889?
A: Anyone who has contributed to or withdrawn from an HSA during the tax year needs to fill out IRS Form 8889.

Q: What information is required to fill out IRS Form 8889?
A: You will need to provide information on your contributions, withdrawals, and any distributions made from your HSA.

Q: When is the deadline to file IRS Form 8889?
A: IRS Form 8889 must be filed with your annual tax return by the due date, which is usually April 15th.

Q: What are some common mistakes to avoid when filling out IRS Form 8889?
A: Some common mistakes to avoid include incorrectly reporting contributions or withdrawals, failing to report distributions, and not including all necessary supporting documentation.

Q: Can I claim a tax deduction for HSA contributions on IRS Form 8889?
A: Yes, you can claim a tax deduction for HSA contributions on IRS Form 8889 if you meet the eligibility requirements.

Q: What should I do if I have additional questions about IRS Form 8889?
A: If you have additional questions about IRS Form 8889, it is recommended to consult with a tax professional or contact the IRS for assistance.