Health Savings Accounts Can Reduce Tax Bills. But Beware the Paperwork.

If you took money from the account, you’ll receive Form 1099-SA, documenting the total spent in 2018. This form will help you fill out Form 8889, which calculates your H.S.A. deduction and is filed with your tax return.

If you put money into an H.S.A. last year, you’ll receive Form 5498-SA, showing the contributions. (If you add extra cash to the account now for 2018, you can expect to get an updated form by the end of May.)

H.S.A. contributions made by you or your employer through payroll deductions also show up on your W-2 wage and tax statement. If the amounts on your W-2 and 5498-SA don’t match, it’s probably because you made after-tax contributions or made a contribution between Jan. 1 and tax day for the previous tax year,…

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