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Health Savings Account (HSA) distributions are reported on IRS Form 1099-SA Distributions from an HSA, Archer MSA, or Medicare Advantage MSA and the information transfers to IRS Form 8889. 

To enter distribution information in the program:

  1. From within your TaxACT return (Online or Desktop) click on the Federal Q&A tab
  2. Click Other Income to expand the category and then click HSA and MSA Distributions (Form 1099-SA) 
  3. Click Add to create a new copy of the form, or click Review to review a form already created
  4. The program will proceed with the interview questions for you to enter or review the appropriate information. Be sure to select HSA on the screen titled Form 1099-SA - Type of Account.

Generally, if you receive a taxable distribution, you must also pay an additional tax on the amount included in income. The amount included in income is the amount not used to pay medical expenses.

To enter other HSA information:

  1. From within your TaxACT return (Online or Desktop) click on the Federal Q&A tab
  2. Click Other Adjustments to expand the category and then click Health Savings Accounts 
  3. The program will proceed with the interview questions for you to enter or review the appropriate information


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