Cat. No. 37621P 14b 14c 17b Form 8889 2017 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 Attach to Form 1040 or Form 1040NR* Go to www*irs*gov/Form8889 for instructions and the latest information* Name s shown on Form 1040 or Form 1040NR Attachment Sequence No* 52 Social security number of HSA beneficiary. If both spouses have HSAs see instructions 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 2017 see instructions. from January 1 2018 through April 17 2018 that were for 2017. Do not include employer...contributions contributions through a cafeteria plan or rollovers see instructions. If you were under age 55 at the end of 2017 and on the first day of every month during 2017 you were or were considered an eligible individual with the same coverage enter 3 400 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 2017 from Form 8853 lines 1 and 2. If you or your spouse had family coverage...under an HDHP at any time during 2017 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 2017 see the instructions for the amount to enter. If you were age 55 or older at the end of 2017 married and you or your spouse had family coverage under an HDHP at any time during 2017 enter your additional contribution amount see instructions. Add lines 6 and 7. Employer contributions...made to your HSAs for 2017. 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 2017 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.
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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
To edit IRS 8889, you can use pdfFiller, which allows you to upload the PDF file and make necessary changes efficiently. Simply select the form, choose the editing tool, and modify any fields that need updates. Ensure that all alterations maintain compliance with IRS requirements to avoid issues during submission.
How to fill out IRS 8889
To fill out IRS 8889 correctly, is vital to follow detailed instructions provided by the IRS. Begin by gathering necessary documents, such as tax information and healthcare coverage details. Make note of the following steps during completion:
01
Enter your name and Social Security number at the top of the form.
02
Provide details about your Health Savings Account (HSA), including contributions and distributions.
03
Complete part I and II for specific health coverage information and adjustments.
Review all entries before submission to ensure accuracy, as mistakes can lead to delays or penalties.
About IRS 8889 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 payments and purchases are reported?
What are the penalties for not filing 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 8889 previous version
What is IRS 8889?
IRS 8889 is the health savings account (HSA) tax form used by individuals to report contributions to and distributions from their HSA. This form is essential for ensuring proper tax compliance concerning HSA transactions and benefits during the tax year.
What is the purpose of this form?
The purpose of IRS 8889 is to assist taxpayers in reporting their medical expenses paid with HSA funds, ensuring that the account is used for qualified medical expenses. This form also informs the IRS of any excess contributions or non-qualified distributions, which can impact tax obligations.
Who needs the form?
Taxpayers who have an HSA must file IRS 8889 if they made contributions to their account or took distributions during the tax year. Additionally, those who received any distributions from their HSA must report those transactions for accurate tax reporting.
When am I exempt from filling out this form?
You are exempt from filling out IRS 8889 if you did not contribute to or take distributions from an HSA during the tax year. If you did not have a compatible high-deductible health plan or if you did not have an HSA, you will not be required to file this form.
Components of the form
IRS 8889 consists of two main parts: Part I addresses HSA contributions, while Part II covers distributions. Each section requires specific information, including details about health coverage, contributions from employers, and medical expenses paid with HSA funds. Completing these sections accurately is crucial for proper tax reporting.
What payments and purchases are reported?
Payments and purchases reported on IRS 8889 include qualified medical expenses such as doctor visits, prescription medications, and preventive care. Non-qualified expenses, such as personal items that do not meet IRS criteria for medical costs, must also be reported as they can affect tax calculations and potential penalties.
What are the penalties for not filing the form?
Failing to file IRS 8889 when required can result in penalties, including taxes on excess contributions or distributions not used for qualified medical expenses. The IRS may impose a 20% penalty on non-qualified distributions, in addition to regular income tax on those amounts.
What information do you need when you file the form?
When filing IRS 8889, you will need your Social Security number, health coverage information, details about your contributions to the HSA, and any distributions taken during the tax year. Accurate record-keeping is essential for providing this information on the form.
Is the form accompanied by other forms?
IRS 8889 can accompany other forms, such as Form 1040, where you report your total taxable income. Depending on your health coverage and HSA contributions, you may also need to fill out additional forms to report various aspects of your tax situation.
Where do I send the form?
You should send IRS 8889 to the appropriate address based on your filing status. If sending by mail, refer to the IRS instructions for the specific address where to submit your form. Electronic filing options may also be available through tax preparation software.
FAQ about IRS 8889
What should I do if I realize I've made a mistake on my IRS 8889 after filing?
If you discover an error on your IRS 8889 after submission, you must file an amended return using Form 1040-X. Make sure to include the corrected IRS 8889 with your amended return, specifying the changes clearly. Keep in mind that it's important to act quickly to minimize any potential penalties.
How can I check the status of my IRS 8889 filing?
You can verify the status of your IRS 8889 by using the IRS 'Where's My Refund?' tool if you expect a refund, or by calling the IRS directly for other inquiries. Keeping track of any confirmation or receipt number when you file can help you reference your submission when checking the status.
What can I do if my e-filed IRS 8889 is rejected?
If your IRS 8889 is rejected during e-filing, review the rejection codes provided by the IRS to understand the issue. Common reasons include incorrect Social Security numbers or missing information. Correct the errors and resubmit the form as soon as possible to avoid delays.
Are there any special considerations for filing IRS 8889 for a nonresident foreign payee?
Filing IRS 8889 on behalf of a nonresident foreign payee requires careful attention to specific regulations. Ensure that all income is correctly reported under the relevant category and that you adhere to any additional documentation requirements that apply to nonresidents. Consulting with a tax professional may be advisable.
What should I do if I receive a notice from the IRS regarding my IRS 8889?
If you receive a notice from the IRS about your IRS 8889, carefully read the letter to understand the issue. Prepare any documents or explanations requested and respond by the deadline stated in the notice. Keeping records of your original submission and communications with the IRS will aid your response.
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