It makes unforgetable memories. Just like there is nothing that compares to a Puerto Rican Navidad, nothing compares with what Puerto Ricans go through their first Christmas away from the Island. It is indeed a triste Navidad like the song says. Puerto Ricans traditionally continued to celebrate Las Navidades until after Los Reyes.
In January of each year, you should receive Form 1099-SA, which will indicate the total distributions you took from your HSA during the previous year. Distributions are not taxed if you spent the money on qualified medical expenses. In January of each year, you will receive an HSA Statement of Account, which serves as a substitute 5498-SA form. This statement will include your Fair Market Value. The Fair Market Value will include the balance in your HSA tiered rate account and your mutual fund investment balance as of year end.
Where to Claim the Deduction. Report your tax-deductible HSA contributions on Form 8889, with the total contributions also reported on Form 1040. Financial institutions report HSA contributions using Form 5498-SA, which is sent both to the taxpayer and to the IRS. Reference Material about Health Savings Accounts. Tax law. Internal Revenue Code Section 223.