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Withdrawals from HSA


How to fill Form 8889 (HSA) Part III?What happens to an HSA when I am no longer eligible to contribute?Filling form 8889 Part I and form 1040 line 25HSA contribution with post-tax moneyAllowed to make a post-tax HSA contribution if pre-tax contributions are available through employer?How is employer HSA excess contribution taxed?Should I include my employer's HSA contributions on Line 21 (Other Income)?HSA distribution and medical expense deduction in the same yearHSA deduction vs medical expensesContribution limits and deadlines for HSA clarification






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3















I understand that qualified withdrawals from HSA are tax free. If I am right in my understanding, then why are withdrawals deducted from the HSA contribution on form 8889 to determine the tax-deductible HSA contribution?



To be specific, Line 10 "Qualified HSA funding distributions" is to be subtracted from the HSA contribution to determine the HSA deduction from taxable income.



I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?










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    3















    I understand that qualified withdrawals from HSA are tax free. If I am right in my understanding, then why are withdrawals deducted from the HSA contribution on form 8889 to determine the tax-deductible HSA contribution?



    To be specific, Line 10 "Qualified HSA funding distributions" is to be subtracted from the HSA contribution to determine the HSA deduction from taxable income.



    I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?










    share|improve this question







    New contributor




    user2371765 is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
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      3












      3








      3








      I understand that qualified withdrawals from HSA are tax free. If I am right in my understanding, then why are withdrawals deducted from the HSA contribution on form 8889 to determine the tax-deductible HSA contribution?



      To be specific, Line 10 "Qualified HSA funding distributions" is to be subtracted from the HSA contribution to determine the HSA deduction from taxable income.



      I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?










      share|improve this question







      New contributor




      user2371765 is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.












      I understand that qualified withdrawals from HSA are tax free. If I am right in my understanding, then why are withdrawals deducted from the HSA contribution on form 8889 to determine the tax-deductible HSA contribution?



      To be specific, Line 10 "Qualified HSA funding distributions" is to be subtracted from the HSA contribution to determine the HSA deduction from taxable income.



      I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?







      united-states hsa






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      user2371765 is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
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          7














          I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?



          You shouldn't, it sounds like you're putting that number in the wrong part of the form.



          Line 10 of Part I (Qualified HSA funding distributions) does not refer to distributions from your HSA used to cover qualified health expenses, but rather distributions from other accounts used to fund your HSA. The Form 8889 instructions state:




          Line 10 Enter on line 10 any qualified HSA funding distribution made
          during the year. This is a distribution from your traditional IRA or
          Roth IRA to your HSA in a direct trustee-to-trustee transfer. This
          qualified HSA funding distribution is not included in your income, is
          not deductible, and reduces the amount that can be contributed to your
          HSA by you and from other sources (including employer contributions).
          This distribution cannot be made from an ongoing SEP IRA or SIMPLE
          IRA. For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an
          employer contribution is made for the plan year ending with or within
          your tax year in which the distribution would be made.




          The distributions you are referring to are recorded in Part II (HSA Distributions). The Part 1 Line 10 name is a bit confusing on it's own, but it makes a little more sense in the context of the section of the form. Part I is "HSA Contributions and Deduction" so all about how the HSA was funded and what portion of those funds are deductible.






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            I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?



            You shouldn't, it sounds like you're putting that number in the wrong part of the form.



            Line 10 of Part I (Qualified HSA funding distributions) does not refer to distributions from your HSA used to cover qualified health expenses, but rather distributions from other accounts used to fund your HSA. The Form 8889 instructions state:




            Line 10 Enter on line 10 any qualified HSA funding distribution made
            during the year. This is a distribution from your traditional IRA or
            Roth IRA to your HSA in a direct trustee-to-trustee transfer. This
            qualified HSA funding distribution is not included in your income, is
            not deductible, and reduces the amount that can be contributed to your
            HSA by you and from other sources (including employer contributions).
            This distribution cannot be made from an ongoing SEP IRA or SIMPLE
            IRA. For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an
            employer contribution is made for the plan year ending with or within
            your tax year in which the distribution would be made.




            The distributions you are referring to are recorded in Part II (HSA Distributions). The Part 1 Line 10 name is a bit confusing on it's own, but it makes a little more sense in the context of the section of the form. Part I is "HSA Contributions and Deduction" so all about how the HSA was funded and what portion of those funds are deductible.






            share|improve this answer





























              7














              I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?



              You shouldn't, it sounds like you're putting that number in the wrong part of the form.



              Line 10 of Part I (Qualified HSA funding distributions) does not refer to distributions from your HSA used to cover qualified health expenses, but rather distributions from other accounts used to fund your HSA. The Form 8889 instructions state:




              Line 10 Enter on line 10 any qualified HSA funding distribution made
              during the year. This is a distribution from your traditional IRA or
              Roth IRA to your HSA in a direct trustee-to-trustee transfer. This
              qualified HSA funding distribution is not included in your income, is
              not deductible, and reduces the amount that can be contributed to your
              HSA by you and from other sources (including employer contributions).
              This distribution cannot be made from an ongoing SEP IRA or SIMPLE
              IRA. For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an
              employer contribution is made for the plan year ending with or within
              your tax year in which the distribution would be made.




              The distributions you are referring to are recorded in Part II (HSA Distributions). The Part 1 Line 10 name is a bit confusing on it's own, but it makes a little more sense in the context of the section of the form. Part I is "HSA Contributions and Deduction" so all about how the HSA was funded and what portion of those funds are deductible.






              share|improve this answer



























                7












                7








                7







                I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?



                You shouldn't, it sounds like you're putting that number in the wrong part of the form.



                Line 10 of Part I (Qualified HSA funding distributions) does not refer to distributions from your HSA used to cover qualified health expenses, but rather distributions from other accounts used to fund your HSA. The Form 8889 instructions state:




                Line 10 Enter on line 10 any qualified HSA funding distribution made
                during the year. This is a distribution from your traditional IRA or
                Roth IRA to your HSA in a direct trustee-to-trustee transfer. This
                qualified HSA funding distribution is not included in your income, is
                not deductible, and reduces the amount that can be contributed to your
                HSA by you and from other sources (including employer contributions).
                This distribution cannot be made from an ongoing SEP IRA or SIMPLE
                IRA. For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an
                employer contribution is made for the plan year ending with or within
                your tax year in which the distribution would be made.




                The distributions you are referring to are recorded in Part II (HSA Distributions). The Part 1 Line 10 name is a bit confusing on it's own, but it makes a little more sense in the context of the section of the form. Part I is "HSA Contributions and Deduction" so all about how the HSA was funded and what portion of those funds are deductible.






                share|improve this answer















                I made withdrawals but they are qualified. Why then should I deduct them from my HSA contribution?



                You shouldn't, it sounds like you're putting that number in the wrong part of the form.



                Line 10 of Part I (Qualified HSA funding distributions) does not refer to distributions from your HSA used to cover qualified health expenses, but rather distributions from other accounts used to fund your HSA. The Form 8889 instructions state:




                Line 10 Enter on line 10 any qualified HSA funding distribution made
                during the year. This is a distribution from your traditional IRA or
                Roth IRA to your HSA in a direct trustee-to-trustee transfer. This
                qualified HSA funding distribution is not included in your income, is
                not deductible, and reduces the amount that can be contributed to your
                HSA by you and from other sources (including employer contributions).
                This distribution cannot be made from an ongoing SEP IRA or SIMPLE
                IRA. For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an
                employer contribution is made for the plan year ending with or within
                your tax year in which the distribution would be made.




                The distributions you are referring to are recorded in Part II (HSA Distributions). The Part 1 Line 10 name is a bit confusing on it's own, but it makes a little more sense in the context of the section of the form. Part I is "HSA Contributions and Deduction" so all about how the HSA was funded and what portion of those funds are deductible.







                share|improve this answer














                share|improve this answer



                share|improve this answer








                edited 7 hours ago

























                answered 8 hours ago









                Hart COHart CO

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