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Entering MSA, HSA, and Form 1099-SA Information in TurboTax

Updated: 1/06/2009
Article ID: 3067

A Medical Savings Account (MSA) or Health Savings Account (HSA) is a tax-exempt trust or custodial account, established by you and your employer, to pay for your qualified medical expenses. Distributions are reported on Form 1099-SA.

Important: Regular health insurance premiums which are deducted from employee paychecks are not MSAs or HSAs. Check with your payroll department if you are not sure.
 

Enter MSA, HSA, and 1099-SA information in the Less Common Income area of the TurboTax Interview. Here's how to get there:

  1. Click the Federal Taxes tab, then click Income. (Home & Business version: click the Personal tab, then click Personal Income.)
  2. Choose Select Specific Topics.
  3. At the bottom of your screen, expand View List to the right of Less Common Income.
  4. Click the Start button next to the first entry, titled 1099-SA, HSA, MSA.
  5. Follow the on-screen instructions. TurboTax will help you determine if your MSA or HSA contributions are deductible and/or if your 1099-SA distributions are taxable.

 

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