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

To enter distribution information in the program:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Health Savings Accounts (HSA) in the Federal Quick Q&A Topics menu to expand, click HSA distributions, then click Yes.
  3. Continue with the interview process to enter all of the appropriate information.
  4. On the screen titled Form 1099-SA - Type of Account, select HSA, then click Continue.

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 Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Health Savings Accounts (HSA) in the Federal Quick Q&A Topics menu to expand, then click All HSA topics.
  3. Continue with the interview process to enter all of the appropriate information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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