IRS Releases 2019 Form 8889 and Instructions for HSA Reporting

The IRS recently released the 2019 version of Form 8889 for Health Savings Accounts (HSA) and its instructions. HSA holders (and beneficiaries or deceased HSA holders) must attach Form 8889 to their Forms 1040, 1040-SR, or 1040-NR to report tax-related events affecting their HSAs, including contributions and distributions.

The IRS has also updated Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans) for 2019 tax returns, providing basic information about HSAs, HRAs, health FSAs, Archer MSAs, and Medicare Advantage MSAs, including brief descriptions of benefits, eligibility requirements, contribution limits, and distribution issues.

Contact your Cornerstone representative for more information.