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HSAs and Form 8889

Course Name: HSAs and Form 8889
Course Number: 99751
Provider Name: ComedyCE.com LLC
Provider Number: 37719
CE Credits: 1 hour

 

Course Overview

Health Savings Accounts allow people to set aside tax-free dollars to pay for eligible medical expenses. One drawback for many people, though, is the additional tax filing requirements that come with HSA ownership. HSA account holders, for example, cannot file form 1040-EZ; instead, they must fill the longer form 1040 or 1040-A. Another requirement is that HSA account holders complete a from 8889 to file with their income tax return. In this class, we review the tax filing requirements in general and take a detailed look at form 8889, providing an example and completing the form line-by-line. This exercise is not meant to turn attendees into tax experts but rather to show them that the requirements aren’t as complicated as they may have originally believed. Having a basic understanding of the HSA tax filing requirements should help agents feel more confident when advising their clients — they can confidently say “it’s not that difficult.”