Tax Form 1099-SA & 5498-SA for HSA Distributions & Contributions

𝗛𝗦𝗔 = Health Savings Account Tax Example Explained See how HSA contributions and withdrawals show up on your tax return step by step. Using “Jane’s” example: ⦿ Employer added $1,000 pre-tax to her HSA; she added $1,500 after tax. ⦿ Contributions are reported on Form 5498-SA and deducted on Form 8889 to lower taxable income. ⦿ Withdrawals are reported on Form 1099-SA — $400 was for qualified expenses (tax-free), $100 for non-qualified (taxable + 20% penalty). ⦿ The non-qualified amount increases income on Form 1040, and the penalty shows as additional tax. ⦿ Together, her adjusted gross income dropped and she still received a refund after withholdings. 𝗙𝘂𝗹𝗹 𝗩𝗶𝗱𝗲𝗼:    • HSA vs FSA 2025: Tax Benefits, Rules & Str...   ━━━⊱𝗟𝗜𝗡𝗞𝗦⋆⊰━━━ ✦ 𝗘𝘁𝘀𝘆 𝗦𝘁𝗼𝗿𝗲: https://www.etsy.com/shop/SmartTempla... ✦ 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 𝗧𝗲𝗰𝗵:    / @akistepinska   ✦ 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 𝗧𝗮𝘅𝗟𝗶𝗳𝗲𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀:    / @taxlifefinances   ✦ 𝗟𝗶𝗻𝗸𝗧𝗿𝗲𝗲: https://linktr.ee/akistepinska ✦ 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 𝗧𝗲𝗰𝗵 𝗧𝘂𝘁𝗼𝗿𝗶𝗮𝗹𝘀: https://akistepinska.com/ ✦ 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 𝗧𝗮𝘅𝗟𝗶𝗳𝗲𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀 𝗧𝘂𝘁𝗼𝗿𝗶𝗮𝗹𝘀: http://www.taxlifefinances.com/ ✦ 𝗔𝗺𝗮𝘇𝗼𝗻 𝗕𝗼𝗼𝗸𝘀: https://www.amazon.com/-/e/B08GY86JM4 ━━━⊱ 𝗦𝗢𝗨𝗥𝗖𝗘𝗦 ⊰━━━ ⦿ IRS Publication 969 – Health Savings Accounts & Other Tax-Favored Health Plans: https://www.irs.gov/publications/p969 ⦿ Fidelity – HSA vs FSA Comparison: https://www.fidelity.com/learning-cen... ⦿ Bank of America – Triple Tax Savings Advantage: https://healthaccounts.bankofamerica.... ━━━⊱ 𝗗𝗜𝗦𝗖𝗟𝗢𝗦𝗨𝗥𝗘 ⊰━━━ This video is for information and educational purposes only. It is not tax, legal, or financial advice. Please consult a qualified professional for advice specific to your situation. #taxguide101 #taxlifefinances #𝗮𝗸𝗶𝘀𝘁𝗲𝗽𝗶𝗻𝘀𝗸𝗮