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.
Health savings accounts (HSA) are tax-deductible savings plans that enable a person to save pre-tax dollars for future healthcare expenses. HSAs are paired with high-deductible health insurance plans. Contributions to an HSA are tax-deductible in the adjustments to income section of Form 1040. Contributions for a particular tax year are due by April 15th (the same day as the deadline for the filing the Form 1040). A person can contribution savings for the tax year 2016, for example, from January 1, 2016, to April 15, 2017. Earnings, such as interest and dividends, in the health savings account, are tax-exempt at the federal level.