Instructions for 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.

FAQ

Q: What is IRS Form 8889?
A: IRS Form 8889 is used to report contributions, distributions, and adjustments related to Health Savings Accounts (HSAs).

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

Q: What information is required on IRS Form 8889?
A: IRS Form 8889 requires you to report your total HSA contributions, any distributions you made from your HSA, and any adjustments that may apply.

Q: When is the deadline to file IRS Form 8889?
A: IRS Form 8889 should be filed along with your annual tax return by the April tax filing deadline.

Q: What should I do if I made a mistake on IRS Form 8889?
A: If you made a mistake on IRS Form 8889, you should file an amended tax return using IRS Form 1040X.

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: Is there a penalty for not filing IRS Form 8889?
A: Yes, there may be a penalty for not filing IRS Form 8889 if you had HSA activity during the tax year and failed to report it.

Q: What if I don't have any HSA activity during the tax year?
A: If you don't have any HSA activity during the tax year, you do not need to file IRS Form 8889.

Q: Are there any deductions or credits related to HSA contributions?
A: Yes, contributions to an HSA may be tax-deductible and can possibly qualify for the HSA deduction on your federal income tax return.