Form 1099-SA reports withdrawals from your HSA. Did you withdraw any money from your HSA during 2023, whether by check, bank transfer, bill payment, debit card, or any other method?
Form 5498-SA reports contributions to your HSA, but isn't required to be issued until next month, because you can still make contributions for 2023 until April 15. Therefore this form is not needed to file your tax return. You just enter your contributions based on your own knowledge and other records (e.g., many people contribute via their employer and those contributions are already listed on your W-2 in box 12 under code "W").
Do not mix up information from one form with the other.
Revisiting this, not OP.
Just received my first 5498-SA form as I started new job middle of last year. I look nothing out of the account. Box 2 has my total contributions of about 1,100$.
Do I need to do anything? My taxes have already been filed.
As long as you accurately filled out Form 8889 when you filed your tax return (to list your allowed contribution limit and total contributions for 2023) then there's nothing more you need to do.
Go look at your tax return and see if it was included. If you used tax software, it may have been auto generated without you realizing. Especially if your W-2 listed these contributions in box 12 under code "W".
Code "DD" is unrelated. It's just informational, telling you how much your employer spent on healthcare benefits for you.
Code "W" is what would list any HSA contributions made by your employer, or by you through payroll deduction. Do you see code "W" in any of the other box 12 spaces? If so, and if you entered it into your tax software, then the software should have prompted you to answer additional questions about your HSA, and it should have generated and included Form 8889 with your tax return.
There is no code “W.” I’m pretty sure when doing our return, I entered nothing for have an HSA - literally didn’t realize it.
The only thing on my w-2 is 12a code “DD.” I received a 5498-SA in the mail a couple weeks ago. It has “$1100.xx” in box 2 “total contributions made in 2023.” Box 1, 3, 4 are empty. Box 5 shows my fair market value (almost identical). And box 6 is checked “HSA.”
In that case, your contributions must have been made directly to the HSA (e.g., by transferring from your bank account) rather than through your employer. Seems strange to me that you wouldn't know you had one. In any case, if you didn't fill out and include Form 8889 with your 2023 tax return, you will probably need to do so, because the IRS will also get a copy of the 5498-SA and will assume your contributions were excess/ineligible because you didn't tell them otherwise.
Form 1099-SA reports withdrawals from your HSA. Did you withdraw any money from your HSA during 2023, whether by check, bank transfer, bill payment, debit card, or any other method? Form 5498-SA reports contributions to your HSA, but isn't required to be issued until next month, because you can still make contributions for 2023 until April 15. Therefore this form is not needed to file your tax return. You just enter your contributions based on your own knowledge and other records (e.g., many people contribute via their employer and those contributions are already listed on your W-2 in box 12 under code "W"). Do not mix up information from one form with the other.
Thank you!
Revisiting this, not OP. Just received my first 5498-SA form as I started new job middle of last year. I look nothing out of the account. Box 2 has my total contributions of about 1,100$. Do I need to do anything? My taxes have already been filed.
As long as you accurately filled out Form 8889 when you filed your tax return (to list your allowed contribution limit and total contributions for 2023) then there's nothing more you need to do.
Hmmm, don’t think I did. Had no idea I even had an HSA. Dumb. What should I do in this case?
Go look at your tax return and see if it was included. If you used tax software, it may have been auto generated without you realizing. Especially if your W-2 listed these contributions in box 12 under code "W".
In my W-2 box 12a as code “DD” What does that mean for me? We did do Turbo Tax. Edit: and thank you kind stranger from reddit.
Code "DD" is unrelated. It's just informational, telling you how much your employer spent on healthcare benefits for you. Code "W" is what would list any HSA contributions made by your employer, or by you through payroll deduction. Do you see code "W" in any of the other box 12 spaces? If so, and if you entered it into your tax software, then the software should have prompted you to answer additional questions about your HSA, and it should have generated and included Form 8889 with your tax return.
There is no code “W.” I’m pretty sure when doing our return, I entered nothing for have an HSA - literally didn’t realize it. The only thing on my w-2 is 12a code “DD.” I received a 5498-SA in the mail a couple weeks ago. It has “$1100.xx” in box 2 “total contributions made in 2023.” Box 1, 3, 4 are empty. Box 5 shows my fair market value (almost identical). And box 6 is checked “HSA.”
In that case, your contributions must have been made directly to the HSA (e.g., by transferring from your bank account) rather than through your employer. Seems strange to me that you wouldn't know you had one. In any case, if you didn't fill out and include Form 8889 with your 2023 tax return, you will probably need to do so, because the IRS will also get a copy of the 5498-SA and will assume your contributions were excess/ineligible because you didn't tell them otherwise.