IRS 8889 2016 free printable template

Cat. No. 37621P 14b 14c 17b Form 8889 2016 Page 2 Income and Additional Tax for Failure To Maintain HDHP Coverage. Form Department of the Treasury Internal Revenue Service OMB No* 1545-0074 Health Savings Accounts HSAs Information about Form 8889 and its separate instructions is available at www*irs*gov/form8889. Attach to Form 1040 or Form 1040NR* Name s shown on Form 1040 or Form 1040NR Social security number of HSA beneficiary. If both spouses have HSAs see instructions Attachment Sequence...No* 52 Before you begin Complete Form 8853 Archer MSAs and Long-Term Care Insurance Contracts if required* Part I HSA Contributions and Deduction* See the instructions before completing this part. If you are filing jointly and both you and your spouse each have separate HSAs complete a separate Part I for each spouse. Check the box to indicate your coverage under a high-deductible health plan HDHP during 2016 see instructions. from January 1 2017 through April 18 2017 that were for 2016. Do not...include employer contributions contributions through a cafeteria plan or rollovers see instructions. If you were under age 55 at the end of 2016 and on the first day of every month during 2016 you were or were considered an eligible individual with the same coverage enter 3 350 6 750 for family coverage. All others see the instructions for the amount to enter. Enter the amount you and your employer contributed to your Archer MSAs for 2016 from Form 8853 lines 1 and 2. If you or your spouse had...family coverage under an HDHP at any time during 2016 also include any amount contributed to your spouse s Archer MSAs. Subtract line 4 from line 3. If zero or less enter -0-. family coverage under an HDHP at any time during 2016 see the instructions for the amount to enter. If you were age 55 or older at the end of 2016 married and you or your spouse had family coverage under an HDHP at any time during 2016 enter your additional contribution amount see instructions. Add lines 6 and 7. Employer...contributions made to your HSAs for 2016. Qualified HSA funding distributions. Add lines 9 and 10. HSA deduction* Enter the smaller of line 2 or line 12 here and on Form 1040 line 25 or Form 1040NR line 25. Caution If line 2 is more than line 13 you may have to pay an additional tax see instructions. 14a 17a Family HSA Distributions. If you are filing jointly and both you and your spouse each have separate HSAs complete a separate Part II for each spouse. Total distributions you received in 2016...from all HSAs see instructions. b Distributions included on line 14a that you rolled over to another HSA. Also include any excess withdrawn by the due date of your return see instructions. Qualified medical expenses paid using HSA distributions see instructions. Self-only Taxable HSA distributions. Subtract line 15 from line 14c* If zero or less enter -0-. Also include this amount in the total on Form 1040 line 21 or Form 1040NR line 21. On the dotted line next to line 21 enter HSA and the...amount. If any of the distributions included on line 16 meet any of the Exceptions to the Additional 20 Tax see instructions check here.

Instructions and Help about IRS 8889

How to edit IRS 8889

How to fill out IRS 8889

Instructions and Help about IRS 8889

How to edit IRS 8889

You can edit the IRS 8889 form by using a PDF editing tool, such as pdfFiller. Upload the form to the platform, make the necessary changes, and save the updated version. Always ensure that the edits comply with IRS regulations.

How to fill out IRS 8889

To fill out the IRS 8889 tax form, follow these steps:

1. Obtain the form from the IRS website or a reliable tax resource.
2. Provide your name and Social Security number at the top of the form.
3. Complete Part I for contributions to your Health Savings Account (HSA).
4. Finish Part II for distributions from your HSA, detailing qualified medical expenses.
5. Review the form for accuracy before submission.

About IRS 8 previous version

What is IRS 8889?

What is the purpose of this form?

Who needs the form?

When am I exempt from filling out this form?

Components of the form

What are the penalties for not issuing the form?

What information do you need when you file the form?

Is the form accompanied by other forms?

Where do I send the form?

About IRS 8 previous version

What is IRS 8889?

The IRS 8889 form is used to report Health Savings Account (HSA) contributions and distributions. This form enables individuals to provide necessary information regarding their HSAs on their tax return, ensuring compliance with tax regulations regarding these accounts.

What is the purpose of this form?

The purpose of IRS 8889 is twofold: to report contributions made to an HSA and to report any distributions taken from the account during the tax year. This form helps the IRS confirm that contributions and distributions comply with the guidelines and limits established for HSAs.

Who needs the form?

Individuals who made contributions to an HSA or received distributions from one during the tax year must file IRS 8889. This includes those who qualify for an HSA and have established an account with a custodian or trustee.

When am I exempt from filling out this form?

You are exempt from filing IRS 8889 if you didn't make any contributions to your HSA or if you did not receive any distributions during the tax year. Additionally, if you have an HSA but do not need to report any activity, you are not required to complete this form.

Components of the form

The IRS 8889 form consists of two main parts: Part I, which deals with HSA contributions, and Part II, which addresses distributions. Each section requires detailed information to ensure compliance with IRS rules, including amounts contributed and spent on qualified medical expenses.

What are the penalties for not issuing the form?

Failing to file IRS 8889 when required can result in penalties, including fines and interest on unpaid taxes. The IRS may disallow any HSA contributions made during the tax year if the form is not submitted, affecting your tax liability and potential refunds.

What information do you need when you file the form?

When filing IRS 8889, you need your personal information, including your full name and Social Security number. Additionally, you'll need details regarding your HSA contributions, distributions taken, and any supporting documentation for qualified medical expenses. This information ensures accurate reporting and compliance.

Is the form accompanied by other forms?

IRS 8889 may need to be submitted alongside your standard tax return form (such as Form 1040) as it acts as a supplementary form for HSA reporting. Ensure that you include all pertinent forms when filing your taxes to avoid delays or issues with your return.

Where do I send the form?

The completed IRS 8889 form should be sent to the same address where you are filing your Form 1040. Depending on your state of residence and whether you are enclosing a payment, the submission address may vary. Always refer to the latest IRS guidelines for accurate mailing information.

FAQ about IRS 8889

What should I do if I need to correct mistakes on my IRS 8889?

If you need to correct mistakes on your IRS 8889, you should file an amended return. This process involves filling out a new IRS 8889 form with the correct information and marking it as 'amended.' Ensure you clearly indicate the changes made and attach any necessary documentation. It’s essential to submit the amended form as soon as possible to avoid potential issues with the IRS.

How can I track the status of my filed IRS 8889?

To track the status of your filed IRS 8889, you can utilize the IRS's online tool called 'Where’s My Refund?' or 'Where's My Amended Return?' depending on the nature of your submission. These tools allow you to see whether your form has been received and processed. Make sure to have your details ready, such as Social Security number and filing status, for accurate tracking.

What privacy measures should I be aware of when filing IRS 8889?

When filing your IRS 8889, it is crucial to consider privacy measures, such as using secure methods for submitting sensitive information. Ensure that any software used for e-filing complies with data security standards. Additionally, keep records in a secure location and limit access to your filing information to prevent identity theft and unauthorized disclosures.

What should I know if I'm filing the IRS 8889 on behalf of someone else?

If you’re filing the IRS 8889 on behalf of someone else, ensure you have proper authorization, such as a Power of Attorney (POA). Additionally, you should be aware of their personal and financial information to accurately complete the form. Be prepared to provide documentation supporting your right to file for another individual to avoid complications during processing.

What common errors should I look out for when completing my IRS 8889?

Common errors when completing IRS 8889 include incorrect Social Security numbers, mismatched names, and inaccurate financial reporting. It's vital to double-check all entries and ensure that the form is filled out correctly. Reviewing the previous year's form and current instructions can also help reduce mistakes, leading to a smoother filing process.