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Printable Form 8889 Centennial Colorado: What You Should Know
MA) for 2017. Your 2024 Form 5498-SA will update your annual contributions to HSA accounts for 2017. Form 1099-MISC reports your health care payments on Schedule A (Box 4(f)); or Schedule B (Box 14(f)), your income tax payment; or “Other,” as applicable, on Schedule C (Box 16(b)). Form 8889 is a summary of your HSA contributions and your income from all sources during 2017. Your 2024 Form 1099-MISC, which you received in January, showed the total contributions you made to H Health Savings Accounts (Has), Archer Medical Savings Accounts (MSA's), and Medicare Advantage MSA's for 2024 and earlier tax years. Your 2024 Form 5498, which is part of your tax return and which is required to be filed in February, reports your income from all sources, including regular, as well as any rollover contributions. Forms 5498 and 8853, also required to be filed with IRS tax forms for 2017, detail HSA contributions made to your Archer Medical Savings Accounts (MSA's) for 2024 and earlier tax years. HSA Contributions and Exclusions for 2018 For 2018, health insurance premiums are no longer tax-deductible. Health insurance premiums on non-covered health benefits are allowed as an exception to deductible health insurance Premiums and the HSA Health Flexibility Tax Credit are no longer tax-deductible to be claimed on Form 1040. For 2024 health insurance premiums, you need to enter a negative number. For example, if premiums are deducted, this is an income tax deduction in the filing year you claimed the deduction. If someone is married and filing separate, they must report a single deduction on Line 32 if they itemize or make self-employment or wage replacement payments (other than for Social Security or Medicare). For more information, refer to line 52A and its instructions. For more information on your individual income tax form, refer to Pub. 505, Tax Withholding and Estimated Tax (SSA), or your income tax return. Tax Information For 2024 Individual Income Tax Filing Due Date The IRS asks taxpayers for early returns by the February 15th due date to be able to take advantage of a special IRS tax program intended to encourage health savings accounts (HSA) owners to begin contributing to their accounts before 2017.
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