1099-SA Tax Forms

1099-SA tax forms are documents issued by financial institutions to report distributions from Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), or Medicare Advantage Medical Savings Accounts (MSAs). These forms report withdrawals made from these accounts during the tax year, including any taxable distributions that may be subject to income tax and penalties. It is important for individuals to receive and review their 1099-SA tax forms to accurately report these distributions on their tax returns. Failure to report these withdrawals correctly can result in penalties from the IRS. Understanding 1099-SA tax forms is crucial for taxpayers with these types of accounts.