HSA Distribution Reporting on Tax Return Shorts #akistepinska #taxlifefinances #taxguide101

𝗛𝗦𝗔 = Health Savings Account, 𝗙𝗦𝗔 = Flexible Spending Arrangement.
𝗙𝘂𝗹𝗹 𝗩𝗶𝗱𝗲𝗼: https://youtu.be/YvLM4ZUTPuw

⦿ 𝗢𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽: HSA is yours for life; FSA belongs to your employer.
⦿ 𝗦𝗲𝘁𝘂𝗽: You open an HSA; FSAs only come through employers.
⦿ 𝗘𝗹𝗶𝗴𝗶𝗯𝗶𝗹𝗶𝘁𝘆: HSA requires a high-deductible plan; FSAs don’t.
⦿ 𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀 2025: HSA $4,300 self / $8,550 family (+$1k at 55). FSA $3,300 (employer may cap lower).
⦿ 𝗧𝗮𝘅𝗲𝘀: HSA = triple tax break (deduction, growth, withdrawals). FSA = pre-tax contributions + tax-free withdrawals.
⦿ 𝗙𝘂𝗻𝗱𝘀: HSA grows as you add money; FSA gives full annual election upfront.
⦿ 𝗥𝗼𝗹𝗹𝗼𝘃𝗲𝗿𝘀: HSA funds never expire; most FSA funds vanish year-end (some rollover allowed).
⦿ 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: HSA reported on 5498-SA/1099-SA & Form 8889; FSA handled by employer.
⦿ 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆: HSA = best for long-term saving & investing; FSA = best for short-term predictable costs.

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✦ 𝗘𝘁𝘀𝘆 𝗦𝘁𝗼𝗿𝗲: https://www.etsy.com/shop/SmartTemplatesLab
✦ 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 𝗧𝗲𝗰𝗵: https://www.youtube.com/@akistepinska
✦ 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 𝗧𝗮𝘅𝗟𝗶𝗳𝗲𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀: https://www.youtube.com/@UCG5sJ1P2AJvPtFk13bUNdNg
✦ 𝗟𝗶𝗻𝗸𝗧𝗿𝗲𝗲: https://linktr.ee/akistepinska
✦ 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 𝗧𝗲𝗰𝗵 𝗧𝘂𝘁𝗼𝗿𝗶𝗮𝗹𝘀: https://akistepinska.com/
✦ 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 𝗧𝗮𝘅𝗟𝗶𝗳𝗲𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀 𝗧𝘂𝘁𝗼𝗿𝗶𝗮𝗹𝘀: http://www.taxlifefinances.com/
✦ 𝗔𝗺𝗮𝘇𝗼𝗻 𝗕𝗼𝗼𝗸𝘀: https://www.amazon.com/-/e/B08GY86JM4

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⦿ IRS Publication 969 – Health Savings Accounts & Other Tax-Favored Health Plans: https://www.irs.gov/publications/p969
⦿ Fidelity – HSA vs FSA Comparison: https://www.fidelity.com/learning-center/smart-money/hsa-vs-fsa
⦿ Bank of America – Triple Tax Savings Advantage: https://healthaccounts.bankofamerica.com/en/triple-tax-savings-advantage

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This video is for information and educational purposes only. It is not tax, legal, or financial advice. Please consult a qualified professional for advice specific to your situation.

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