Form 5329 is an attachment to the federal income tax return that must ... a health savings account (HSA), or an education savings account. Received taxable distributions from an education savings ...

Each January, your mailbox and email are likely filled with tax forms. You'll receive a W-2 reporting your wages if you work for an employer. But if you do any self-employed or freelance ...

You can find this total on your W-2, Wage and Tax Statement, in box 12 under the code W. The second part of Form 8889 is where you report withdrawals or distributions made from your HSA.

Whenever you make a withdrawal from your HSA, your HSA provider, custodian or trustee makes an IRS Form 1099-SA. This details your contributions and any distributions for the year.

"You aren't taxed on either end if HSA withdrawals are qualified. It combines the best tax features of a Roth and a tax-deferred account," Brandon Renfro, a certified financial planner and ...

Withdrawals from HSAs are tax-free, just like Roth IRAs; nor do RMDs apply to either account type. But inherited HSAs don’t have the same tax benefits that Roth IRAs do. HSA investors should ...

The HSA should logically come after withdrawals from taxable accounts and traditional IRAs and 401(k)s. That’s because HSAs enjoy tax-free compounding and withdrawals are tax-free for qualified ...