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ENVIRONMENTAL HEALTH DEPARTMENT AIR QUALITY PROGRAM COMPLIANCE ASSURANCE SECTION 1 CIVIC PLAZA RM. 3047 P.O. BOX 1293 ALBUQUERQUE, NM 87103 (505) 7681972 VOICE (505) 7681977 FAX (505) 7682482 TTY

How to fill out instructions for forms 1099-sa

Instructions for filling out forms 1099-SA:

1. Gather the necessary information: Before beginning the form, make sure you have all the relevant information handy. This includes the name, address, and taxpayer identification number (TIN) of the payer and recipient, as well as the account number associated with the health savings account (HSA) or medical savings account (MSA).
2. Enter the payer's information: Start by entering the payer's name, address, and TIN in the designated fields on the form. Double-check the accuracy of this information to ensure there are no mistakes.
3. Provide recipient details: Next, provide the recipient's name, address, and TIN. If the recipient is an individual, enter their social security number (SSN). If the recipient is a non-individual, such as a trust or estate, enter their employer identification number (EIN).
4. Report account information: In this section, you will need to provide details about the HSA or MSA account associated with the distribution. Enter the account number and the fair market value of the account at the time of distribution.
5. Fill out distribution information: Now, you will need to report the distribution amounts. Indicate whether the distribution is a normal or excess distribution, and enter the total distribution amount in Box 1. If any of the distribution is for qualified medical expenses, report the amount in Box 2. Box 3 should reflect any contributions made to the distribution year, and Box 4 should show any prior year distributions.
6. Include any taxable amount: If the distribution is taxable, fill out Box 5 with the applicable amount. This is typically the total distribution minus any qualified medical expenses reported in Box 2. Consult the instructions provided by the IRS to determine how to calculate the taxable amount accurately.
7. Complete additional information: Some boxes on the form may require additional information, such as reporting employer contributions to an MSA or an attachable statement regarding any excess contributions. Refer to the IRS instructions to determine if any additional information is required.
8. Review and verify: Double-check all the information entered on the form for accuracy. Ensure that all the boxes are filled out correctly and that there are no misspellings or errors. Review the form one final time before proceeding.
9. Submit the form: Once you are confident that all the information is accurate, submit the form to the appropriate parties. Send Copy A to the IRS, Copy B to the recipient, and keep Copy C for your records.

Who needs instructions for forms 1099-SA?

1. Individuals who have received distributions from an HSA or MSA and need to report it to the IRS.
2. Payers or entities responsible for making distributions from HSAs or MSAs and must provide the necessary forms to recipients.
3. Tax professionals or accountants who assist individuals or entities in correctly filling out and submitting forms 1099-SA to comply with the IRS regulations.

For pdfFiller’s FAQs

What is instructions for forms 1099-sa?

Instructions for Form 1099-SA provide guidance on how to properly complete and file Form 1099-SA, which is used to report distributions from an HSA, Archer MSA, or Medicare Advantage MSA.

Who is required to file instructions for forms 1099-sa?

Any entity that makes distributions from an HSA, Archer MSA, or Medicare Advantage MSA must file Form 1099-SA and follow the instructions provided.

How to fill out instructions for forms 1099-sa?

Follow the step-by-step instructions provided in the Instructions for Form 1099-SA, ensuring that all required information is accurately reported.

What is the purpose of instructions for forms 1099-sa?

The purpose of the instructions is to help ensure that accurate information is reported on Form 1099-SA, allowing the IRS to track distributions from HSAs and MSAs.

What information must be reported on instructions for forms 1099-sa?

Instructions for Form 1099-SA require reporting of the recipient's name, address, TIN, distribution amount, distribution code, and other relevant details.

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