What you need to know before filing taxes.

When it comes to your tax filing, are you unclear as to what's needed or what you need to do regarding your tax-advantaged HSA? Don't worry, we get it. To help, we've broken down the basics.

At tax filing time, you'll need to complete and submit IRS Form 8889 along with your federal income taxes to report your HSA contributions, distributions, and tax deductions.

How do I determine my distributions for 2019?

Use IRS Form 1099-SA. This form will be available in the portal at the end of January. You will receive an alert once it is available for download.

How do I determine my contributions for 2019?

Use IRS Form 5498-SA. This form, which reports your total amount of contributions for 2019, will be available in the portal in May 2020. However, since you won't receive this form prior to the tax deadline, you will need to reference other documents when preparing your 2019 tax return. Your monthly and year-end statements are a great place to access information regarding your account and annual contributions. Copies of your statements are available in the portal. Remember, you have until April 15, 2020 to make contributions to your HSA for the 2019 tax year.

Have additional questions? Please speak with a qualified professional for tax advice, if needed.