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 Where to Report 1099 Sa on 1040 2018-2025

1099sa 2018-2025 Form

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hi I'm mark for attacks comm when you receive a distribution from your health savings account HSA your plan administrator will issue you a form 1099 essay indicating the amount of the distribution you can total up all of your medical expenses which should offset the distribution even if you don't normally itemize your deductions you will want to total up all of your medical expenses so that you can offset the distribution qualified medical expenses as defined by the IRS generally include most medical care and services dental and vision care prescription drugs and some over-the-counter drugs that are not covered by insurance or otherwise your distribution will only be taxable if you have fewer medical expenses than the distribution that you took you will have to list the excess distribution amount on the other income line on your tax return and pay ordinary income tax on the amount there's also a 20% penalty on the excess distribution so be careful about the amou

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