Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 29, 2015 23:11:30 GMT
Seriously? WTH are we supposed to do with this?
Are we subject to have to constantly amend our returns well into June because some dope company...the company that handles the company HSA accounts...we contributed money all of last year so it's not like they're just now catching up to our contributions.
Isn't there a deadline for paperwork needed to file taxes...at the END OF JANUARY? FOUR MONTHS AGO.
Complete bull shit. |
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Post by femalebusiness on May 29, 2015 23:21:25 GMT
Wow, that would royally piss me off.
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 29, 2015 23:24:10 GMT
Form 5498-SA is informational only - you don't need it for your taxes.
ETA: The IRS rule is that it has to be sent by the end of May for contributions made the prior year.
If you had any distributions from the HSA last year, which generally are reportable on your taxes, that should have arrived in January on Form 1099-SA.
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 29, 2015 23:32:25 GMT
Form 5498-SA is informational only - you don't need it for your taxes. ETA: The IRS rule is that it has to be sent by the end of May for contributions made the prior year. If you had any distributions from the HSA last year, which generally are reportable on your taxes, that should have arrived in January on Form 1099-SA. I guess when I read on it that "the information in boxes 1 through 6 is being furnished to the IRS" I assumed we needed to do something with it and it wasn't "informational only" but clearly I may not be right and it sure looks like you know more about this than I do.
Way to freak people out.
(although I will pull up our taxes to be sure that we received a 1099-SA and filed it accordingly...I'm almost afraid to confirm that the totals match)
Cross your fingers. 
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 29, 2015 23:35:42 GMT
I agree - it does freak people out. I had a similar freak out about 7 years ago when we first had our HSA and I got the form in May. |
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Post by eebud on May 30, 2015 0:03:12 GMT
Glad Busypea know about that form. We have an HSA this year for the first time so that is not a form I was familiar with. However, I wanted to point out that not all forms are required to be out by the end of January. Some 1099's have until mid-February. If you are a member/owner of an LLC and you receive a K-1, that is not due until mid-March. In this case, the LLC has to have time to receive it's documents and file it's return and then get the K-1's to the owners. So, depending on what you have to report, you cannot always assume that a postmark of January 31st is correct for all documents.
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 30, 2015 0:05:45 GMT
I agree - it does freak people out. I had a similar freak out about 7 years ago when we first had our HSA and I got the form in May. Seriously...wth?
I found the "original" 1099-SA that we used or filed when we did our taxes back in February.
Of course, the totals of the original form do not match the new form. (yet the empty box that says "corrected (if checked)" is not checked on the new copy.
So it looks like they've reported two different amounts to the IRS? Or is this new form in addition to the original form we got back in January? (for the record...the new amount is $1,021.73 higher than original form so we're not talking just a buck or two)
I asked DH if there was someone in HR that he could speak to about this...but busypea...do you have any suggestions?
(if it makes a difference, our "original" form that we got back in January says "Copy B for Recipient" and our new form we got today says "Copy B for Participant")
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 30, 2015 0:09:05 GMT
They shouldn't match - your 5498 is reporting your *contributions* and your 1099 is reporting your *distributions* (and any earnings from invested assets within the HSA.)
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krissti
Shy Member
Posts: 37 
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Post by krissti on May 30, 2015 0:09:25 GMT
We got the same form today. I can't deal with it until next week. Ugh.
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Post by Bitchy Rich on May 30, 2015 0:11:45 GMT
Seriously...wth?
I found the "original" 1099-SA that we used or filed when we did our taxes back in February.
Of course, the totals of the original form do not match the new form. (yet the empty box that says "corrected (if checked)" is not checked on the new copy.
So it looks like they've reported two different amounts to the IRS? Or is this new form in addition to the original form we got back in January? (for the record...the new amount is $1,021.73 higher than original form so we're not talking just a buck or two)
I asked DH if there was someone in HR that he could speak to about this...but busypea...do you have any suggestions?
(if it makes a difference, our "original" form that we got back in January says "Copy B for Recipient" and our new form we got today says "Copy B for Participant")
Don't you know how much you contributed to your HSA for the year? If it is an employer contribution only, it's not deductible anyway, so it doesn't matter. Plus, that info was on your W-2. |
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Deleted
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Oct 7, 2024 9:29:53 GMT
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Post by Deleted on May 30, 2015 0:28:06 GMT
They shouldn't match - your 5498 is reporting your *contributions* and your 1099 is reporting your *distributions* (and any earnings from invested assets within the HSA.) Ok...you're right...AGAIN. Because the forms look so identical, even though I typed 5498-SA and 1099-SA, it didn't dawn on me that they're different. Duh. LOL
So I guess the form we got back in January that we filed is good enough...and if this is really informational, I'm going to file this away in the 2014 tax folder (and indicate the date it was rec'd in the mail) and call it good.
I know nothing about taxes. I filed my own 1040EZ when I was young and pay a CPA to do the taxes on my trust. DH handles the household taxes...probably for this very reason.
I think I need a cocktail.
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samantha25
Pearl Clutcher
Posts: 3,079
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Post by samantha25 on May 30, 2015 5:13:15 GMT
Yes... cocktailSSSSS indeed.
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scrapaddie
Drama Llama
Posts: 5,090
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Post by scrapaddie on May 30, 2015 12:17:19 GMT
I have gotten amended 1099s from as far back as two years ago. really? I'm supposed to go back and redo taxes were filed two years ago!?
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