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February 2014 A Guide to Your 2013 1099 Consolidated Tax Statement Your Morgan? Stanley 1099 Consolidated Tax Statement is designed to assist you in filing your federal income tax return. It is divided

How to fill out 2013 form 1099-sa

How to fill out 2013 Form 1099-SA:

1. Obtain the necessary form: You can download Form 1099-SA from the official website of the Internal Revenue Service (IRS) or obtain a physical copy from a local IRS office.
2. Gather the required information: Before filling out the form, gather the necessary information such as the payer's name, address, and tax identification number (TIN), as well as your own name, address, and TIN.
3. Complete the payer's information: Enter the payer's name and address in the designated fields on the form. Also, include their TIN in the appropriate section.
4. Provide recipient information: Enter your name, address, and TIN in the respective sections on the form. If there are multiple recipients, each recipient will require their own separate Form 1099-SA.
5. Indicate the type of account: Box 1a of the form requires you to indicate the type of account for which the distribution was made. Select the appropriate box that corresponds with the account type (HSA, Archer MSA, or Medicare Advantage MSA).
6. Report the distribution: In Box 1b, enter the gross distribution amount that was made to you during the tax year. Ensure that this amount is accurately reported, as it may be subject to taxation or penalties.
7. Determine the fair market value: If applicable, calculate the fair market value of the account at the time of the distribution and enter it in Box 2. This is only necessary for certain types of distributions, such as those that include stocks or securities.
8. Check the appropriate box: Box 3 requires you to check the applicable box to indicate the type of distribution you received, such as a rollover, a return of excess contributions, or a normal distribution.
9. Complete the payer's federal income tax withheld: If any federal income tax was withheld from the distribution, enter the amount in Box 4.
10. Provide state information: If your state imposes income taxes, enter any state income tax withheld in Box 5.
11. Furnish copies: After completing the form, furnish copies to the payer and the recipient. Retain a copy for your own records as well.

Who needs 2013 Form 1099-SA:

1. Health Savings Account (HSA) holders: Individuals who had money distributed from their HSA during the 2013 tax year may need to fill out Form 1099-SA. HSAs are used to pay for qualified medical expenses and are tax-advantaged accounts.
2. Archer Medical Savings Account (Archer MSA) holders: Similar to HSAs, Archer MSAs allow individuals covered by high-deductible health plans to save for medical expenses. If you received distributions from an Archer MSA in 2013, you may need to complete Form 1099-SA.
3. Medicare Advantage MSA holders: Individuals who hold a Medicare Advantage MSA, which is a type of Medicare health savings account, may also require Form 1099-SA if distributions were made from their account in 2013.

Note: It is important to consult the IRS guidelines or a tax professional to determine your specific filing requirements and ensure accurate completion of Form 1099-SA.

For pdfFiller’s FAQs

What is form 1099-sa - 1040com?

Form 1099-SA is used to report distributions from an HSA, Archer MSA, or Medicare Advantage MSA. Form 1040 is the U.S. Individual Income Tax Return.

Who is required to file form 1099-sa - 1040com?

Financial institutions and employers are required to file Form 1099-SA.

How to fill out form 1099-sa - 1040com?

Form 1099-SA is filled out with the details of distributions from the HSA, Archer MSA, or Medicare Advantage MSA. Form 1040 is filled out with the individual's income and deductions.

What is the purpose of form 1099-sa - 1040com?

The purpose of Form 1099-SA is to report the distributions from the specified accounts, while Form 1040 is used to report an individual's income and calculate the tax owed.

What information must be reported on form 1099-sa - 1040com?

Form 1099-SA must include the recipient's name, address, Social Security number, amount of distribution, and any applicable codes. Form 1040 must include income, deductions, and tax calculations.

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