Investor Glossary-form 8889Investor Glossary-form 8889Investor Glossary-form 8889Investor Glossary-form 8889Insightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Form 8889

The HTML to link to this page
 

Form 8889 is an Health Savings Account (HSA) related IRS form. A taxpayer must file Form 8889 in any of the following cases:
Case 1: you must file Form 8889 if you made a contribution to your HSA account.
Case2 : you must file Form 8889 if your employer or somebody else made a contribution to your HSA account on your behalf.
Case 3: you must file Form 8889 if you received an interest in an HSA as a result of the death of the account beneficiary.
Case 4: you must file Form 8889 if you received an HSA distribution during the taxable year.
Case 5: you must file Form 8889 if you over-contributed to your HSA account. This excess contribution will be taxed as income and may be assessed a 10% penalty. One way to reduce any excess contribution in Form 8889 is to withdraw not yet reimbursed qualified medical expenses prior to April 15.
Also, be aware that as long as you (or your spouse for joint filers) received an HSA distribution, you will need to file Form 8889 with Form 1040, even if you have not received any taxable income and therefore were not planning on filing Form 1040.
IRS provides guidance on how to fill out Form 8889 in its "Instructions for Form 8889" guide.



Rate this Form 8889 definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: cancelled check, stock split, ex-dividend, class C shares, balance sheet, dividends payable, deferred tax, 401a, average price per share, stock market close, VIX, current ratio, open position, EBITDA, debt service coverage, irrevocable trust, risk management, required rate of return, retained earnings, inflation, covered put, FICO score, diluted share, APR, quality assurance, 144a, in escrow, wholly-owned subsidiary, ex-dividend date, reverse mortgage, labor relations, 1035 exchange, deferred revenue, Key Rate Duration, Zero Cost Collar, 1031 exchange, option premium, phantom income, LIBOR, command economy, limit order, FTSE, minority interest, margin rate, annual return, implied volatility, real GDP, liquidity ratio, per diem


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use