How to Complete IRS Form 8889 for Health Savings Accounts (HSA)

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A U.S. taxpayer with a high deductible insurance plan is allowed to open a Health Savings Account (HSA) to help cover some of their medical costs.

The appeal with an HSA is the contribution to the account is tax deductible (similar to a traditional IRA) even if you don't spend money in the current period on medical expenses.

Whether you make contributions personally or via your employer, you need to file Form 8889 to report contributions to the account and any distributions used for medical costs.

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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.

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Outstanding straight-to-the-point explanation. Everyone else's video painfully went through 14 minute or more discussions.

pd-ltlz
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Where on your W-2 do you find the amount for line 2 (HSA contributions you made)?

tammaragardner
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What kind of documentation would you rely on? Just W2 box 12?

Iheartfinance
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What if you were not an eligible individual the whole year? How does it get filled out?

crimsonghost
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Just one question about cafeteria plans. I have a 125-HSA plan deduction of $300 (I started the HSA in October 2021). My employer contributed $480 for 2021. My W2 Box 12 (W) shows $300. Should it not show $780? Thank you for the video and your time.

MB-sdoz
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I see the W part of 12 a-d but under my W there is DD and another amount. I am unsure where that DD part gets entered.

saenz
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Thank you! What if my total distribution (Line 14a) from my 1099-SA is more than my contributions (line 11)? I have used money from previous years that accumulated in my HSA and then paid a larger amount than was contributed.

dellarobinson
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Most companies, I think, use pre-tax payroll deductions for the employee contribution so line 2 will almost always be blank. Please provide a more real life example.

ekaterinaboehm
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If my box 12 shows code w $3550. Does that mean it’s all employer contribution? Or Do I have to find out how much of that $3550 was my contribution and employer ?

teanyt
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I received a corrected W2 it shows that box 12b code W is first W2 shows in box 12b code W the amount is 2662....and in my corrected W2 it shows box12 b code W is now 1300....do i have to ammend my tax return??

batangqueens
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What if I have two Form 5498 - SA forms from two different employers? Should I add up the amounts mentioned in 12a (W) in the two W2s I received and enter the total amount in line 2 of Form 8889? Do I have to file just one Form 8889 in such a scenario? Or will it be two different Form 8889s? If I go with the former option, my total amount would be more than the line 3 amount of $3, 650 in Form 8889. Please advise. TIA!

rushiraiyani
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12d do I need to use that on 8889 or just apply 12 c W

cynthiagranado
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In box 12 of my W2 there is code W $3524

I contributed $2500 and my employer put in $1024.
In form 8889, do I put $2500 in line 2 and $1024 in line 9.
This way I get an adjustment to income for $2500

If all amount is put in line 9 there is no deduction to be taken

adarshbajaj
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Where are you getting the number for line 2??

mnoone
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