What is the Form 1099-SA?
The Form 1099-SA is a U.S. tax form used to report distributions from Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), or Medicare Advantage MSAs. This form is issued by the custodian or trustee of the account to the account holder and the IRS. It provides details about the amount of money withdrawn from the account, the type of distribution (whether for medical expenses or other purposes), and whether any portion of the distribution is taxable or subject to penalties. The information on Form 1099-SA is used by individuals to accurately report the distribution on their tax return.