Welcome to simple tax one two three healthcare saving account with form 88-89 first enter basic filing information enter name social address phone occupation then go to' menu file select add optional schedule and forms check the form 88-89 HSA box click apply button then click edit button to enter data HSA account requires high deductible health plan so enter coverage type self or family enter individual contribution of $3,000 you can find this from forum 5498 si if you receive form 1099 si enter the total FSA distribution and you must enter qualified medical expense typically equal to total distribution otherwise it may subject to tax penalty of 20% when done click Save button next click import button to enter w2 income for this example enter w2 income of $70,000 now click view button to see the result form 88-89 is generated an amount of income adjustment of $3,000 is allowed this amount is also reflected in form 1040 line 25 the adjusted gross income is reduced by this amount a form 88-89 compute taxable distribution the HSA distribution exceeding qualified medical expenses subject to regular tax amount of 100 is taxable which is also reflected in form 1040 line 21 the penalty of using HSA for non qualified medical expenses $20 the results of Form 88-89 are entered into form 1040 in line 21 as HSA income in line 25 as HSA adjustment 961 as additional taxes thanks for watching.
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8889 Instructions 2023 Form: What You Should Know
If you have a valid employer identification number (EIN), put the EIN in this field as well. If you have any errors, the IRS will allow a 10-day response period for corrections. Example: I have recently purchased a home from my wife through a pre-owned (purchased through a mortgage broker) purchase agreement as a result of my retirement savings; however, my I also plan to start building my own home in an unincorporated community because I do not want my tax-reporting address to be Page 12 — IRS Page 8 — IRS Page 8 — IRS Page 8 — IRS Page 8 — IRS Page 8 — IRS If you do not wish to stop withholding, you should complete the “For Further Information” section. If you have any questions about using Form W-4P to determine your withholding requirements, you must submit those questions to your payroll agent in writing, unless you have a Payroll agent in the tax-reporting area on your home. You can contact your payroll agent at or toll-free at. You will not receive a confirmation back from your payroll agent, even if your questions have been answered. As you are filing Form W-4P, you will receive a check and a new W-4 form within 15 calendar days. The following example illustrates the steps in a page 13 — IRS If, however, you have no other tax-reporting information, the Form will not be sent to you. Page 13 — IRS Step 1 — For Further Information — Do not send a check for tax withholding. The Form W-4P will only be used for that purpose. If you don't know what your withholding requirements are, use the following instructions to calculate your estimated 2023 tax bill. The Estimated 2023 Payroll Tax for Individuals, by Tax Year will include income you will receive in 2018. Please read the instructions carefully. The IRS will send you a Form W-4P with instructions that must be used to fill out the W-4 form before filing, or you will be charged an additional filing fee.
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