Health Savings Account

Feb 25, 2007 1 Replies

I'm going to prepare my wife and my returns this year. One thing I have a question with. How do I handle HSA's? My wife received something titled "Combined Tax Statement for Forms 1098, 1099, 5498" It lists "Gross Distribution $72.83" and that's it. On another note, I haven't purchased software yet. Still deciding between TurboTax and TaxAct. I know TA is cheaper, but I'm more concerned about accuracy and saving money than I am about an extra $20. Thanks, as always.



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Get Form 8889 and follow the instructions for completing it.

For example:

- total distributions are reported on Line 12a.

- contributions are reported on Line 2; and the deductible part (hopefully all) is carried forward to Form 1040 line 25.

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