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
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How to fill out IRS 8889
Instructions and Help about IRS 8889
How to edit IRS 8889
To edit IRS 8889 efficiently, utilize a PDF editing tool like pdfFiller. This platform allows users to make necessary adjustments directly to the form fields, ensuring accurate information is entered before final submission.
How to fill out IRS 8889
Filling out IRS 8889 involves several steps. Begin by gathering necessary documentation such as your Health Savings Account (HSA) records and other relevant financial details. Follow the structured sections of the form, providing accurate data regarding your contributions, distributions, and tax deductions.
01
Obtain the IRS 8889 form from the IRS website or a reliable tax form resource.
02
Review each section to understand the information required, focusing on contributions and distributions related to your HSA.
03
Fill in your personal details at the top of the form, including name, address, and taxpayer identification number.
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?
IRS 8889 is the Health Savings Accounts (HSAs) form used by individuals to report contributions and distributions related to their HSAs. This form is essential for ensuring accurate tax reporting when claiming deductions related to HSA contributions or distributions for qualified medical expenses.
What is the purpose of this form?
The primary purpose of IRS 8889 is to allow taxpayers to report their HSA transactions. This includes contributions made by both the taxpayer and their employer, as well as distributions taken from the account. Properly completing this form can result in significant tax benefits, including deductions and exemptions.
Who needs the form?
Taxpayers who have made contributions to or taken distributions from a Health Savings Account must file IRS 8889. This includes individuals who are eligible for HSAs, those who have received HSA contributions from their employers, and any user of HSA funds for medical expenses.
When am I exempt from filling out this form?
You are exempt from filing IRS 8889 if you had no contributions or distributions from your HSA during the tax year. Additionally, taxpayers who did not establish an HSA or were ineligible for the full calendar year do not need to complete this form.
Components of the form
The key components of IRS 8889 include sections for reporting HSA contributions, distributions, and compliance with the contribution limits set by the IRS. It also requires taxpayers to provide information about the type of coverage under which they are eligible and the purpose of any distributions taken.
What are the penalties for not issuing the form?
Failure to file IRS 8889 when required can result in significant penalties, including fines imposed by the Internal Revenue Service. Penalties may apply to any unreported distributions not used for qualified medical expenses, as these amounts may be subject to additional taxes.
What information do you need when you file the form?
When filing IRS 8889, gather essential information such as your HSA account details, the total amount contributed during the tax year, and any distributions taken. Ensure you have proper documentation for medical expenses if you utilized HSA funds for payments.
Is the form accompanied by other forms?
IRS 8889 may be accompanied by other tax forms depending on your situation. For example, you may need to submit Form 1040 as part of your overall tax return when claiming HSA benefits or related deductions. Be familiar with all relevant forms to ensure complete and accurate filing.
Where do I send the form?
The completed IRS 8889 must be sent to the address specified in the IRS instructions for your Form 1040 or whichever form you are filing alongside it. Ensure that the submission is made timely to avoid penalties and maintain compliance with tax regulations.
FAQ about IRS 8889
What should I do if I need to correct an error after filing IRS 8889?
If you realize you've made a mistake on your IRS 8889 after filing, you need to submit a corrected form. This can usually be done by filing an amended return using Form 1040-X, where you can explain the changes in detail. Keep a record of any correspondence and documents related to the amendment.
How can I track the status of my IRS 8889 submission?
To track the status of your IRS 8889 submission, you can use the IRS 'Where's My Refund?' tool if it's part of a refund claim. For e-filed submissions, keep an eye out for confirmation emails which indicate the IRS has received your form. Additionally, you can call the IRS for updates or verification.
What common mistakes should I avoid when filing IRS 8889?
Common mistakes when filing IRS 8889 include providing incorrect or incomplete information, missing signatures, and failing to check box selections. Always double-check the figures and ensure that all required fields are filled to minimize the chances of rejection. Additional care in documentation can prevent follow-ups.
Are e-signatures acceptable for IRS 8889 submissions?
Yes, e-signatures are accepted for IRS 8889 submissions when filed electronically. Ensure that your e-signature complies with IRS regulations, which usually means it must include your PIN or any verified information associating your identity with the submission. However, for paper submissions, a handwritten signature is still required.
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