Get the free 2012 FORM 1099-SA DISTRIBUTIONS FROM AN HSA ARCHER MSA

Tax Statement for Forms 1098, 1099 and 5498 for Year 2012 NAME, ADDRESS AND FEDERAL I.D. NO. CUSTOMER NAME ADDRESS THE BANGOR BANK 409 SILVERSIDE ROAD, SUITE 105 WILMINGTON, DE 19809 Payers Federal

How to fill out 2012 form 1099-sa distributions

How to fill out 2012 form 1099-sa distributions:

1. Obtain the form: The 2012 form 1099-SA distributions can be obtained from the Internal Revenue Service (IRS) website or from your tax advisor. Make sure you download or obtain the correct version for the year 2012.
2. Identify the recipient: Enter the name, address, and social security number (or taxpayer identification number) of the individual who received the distributions in Box 1 of the form. Double-check the accuracy of the information to avoid any errors.
3. Report the distributions: In Box 2, enter the total amount of distributions made to the recipient during the tax year. This includes any money or fair market value of any stock or property received from a health savings account (HSA), Archer MSA, or Medicare Advantage MSA.
4. Indicate type of distribution: Check the applicable box in Box 3 to indicate what type of distribution was made. This could include a normal distribution, a qualified HSA funding distribution, a rollover, an excess contribution removal, or a prohibited transaction distribution.
5. Additional reporting requirements: Depending on the type of distribution, you may need to provide further details. Boxes 4, 5, and 6 are used to report any additional information such as the account number, the fair market value, or taxable amount associated with specific types of distributions. Refer to the instructions provided with the form for guidance on filling out these boxes accurately.
6. Complete the payer's details: In Box 7, enter the name, address, and taxpayer identification number of the payer. This is usually the financial institution or trustee that administers the HSA, Archer MSA, or Medicare Advantage MSA.

Who needs 2012 form 1099-SA distributions:

1. Individuals with Health Savings Accounts (HSA): If an individual has made distributions from his or her HSA during the tax year 2012, they may need to report these distributions using form 1099-SA for tax purposes.
2. Individuals with Archer Medical Savings Accounts (MSA): Taxpayers who have received distributions from an Archer MSA in 2012 should also use form 1099-SA to report these distributions to the IRS.
3. Individuals with Medicare Advantage Medical Savings Accounts (MSA): If an individual had a Medicare Advantage MSA and received distributions from it in 2012, form 1099-SA should be used to report those distributions.

It is important to note that not all taxpayers will need to file form 1099-SA. Only those individuals who meet the above criteria and have made distributions from the specified accounts need to complete and submit this form to the IRS.

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What is form 1099-sa distributions from?

Form 1099-SA is used to report distributions from Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), or Medicare Advantage Medical Savings Accounts (MSAs).

Who is required to file form 1099-sa distributions from?

Financial institutions, employers, or anyone who administers an HSA, MSA, or MSA is required to file form 1099-SA to report distributions from these accounts.

How to fill out form 1099-sa distributions from?

To fill out form 1099-SA, you need to provide the recipient's information, distribution amount, any earnings on the account, and any penalties paid.

What is the purpose of form 1099-sa distributions from?

The purpose of form 1099-SA is to report to the IRS and the recipient the distributions made from Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), or Medicare Advantage Medical Savings Accounts (MSAs).

What information must be reported on form 1099-sa distributions from?

You must report the recipient's name, address, taxpayer identification number, distribution amount, earnings, and any penalties paid.