Author Topic: HSA and tax question  (Read 2029 times)

rubybeth

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HSA and tax question
« on: November 30, 2017, 10:34:15 AM »
I asked this of the HSA provider via my employer but their answer was kind of... garbled. I just want to confirm a detail about taxes. If I make an after-tax contribution to my HSA instead of just via payroll deduction, will I get some kind of statement or tax form to get the tax savings on these funds? I'm not planning to max my HSA in 2018 but may decide to put away some additional funds in 2018 into the HSA if we don't use funds for our other savings goals.

ixtap

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Re: HSA and tax question
« Reply #1 on: November 30, 2017, 11:01:56 AM »
You will have the account for income tax purposes. You will not get refunded for FICA.

seattlecyclone

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Re: HSA and tax question
« Reply #2 on: November 30, 2017, 11:03:44 AM »
You'll need to fill out Form 8889 with your tax return to claim the deduction on any non-payroll contributions. I believe your HSA provider will submit an informational form to you and the IRS to substantiate it.

rubybeth

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Re: HSA and tax question
« Reply #3 on: November 30, 2017, 11:24:07 AM »
Okay, that helps, thanks!

MDM

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Re: HSA and tax question
« Reply #4 on: November 30, 2017, 04:28:33 PM »
You'll need to fill out Form 8889 with your tax return to claim the deduction on any non-payroll contributions. I believe your HSA provider will submit an informational form to you and the IRS to substantiate it.
Yes - Form 5498-SA is what one should get, as confirmation for what one will enter on 8889.

rubybeth

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Re: HSA and tax question
« Reply #5 on: December 01, 2017, 07:02:37 AM »
HSA provider did get back to me that I will get some tax forms, but will need to keep track of how much I deposit on my own vs. payroll deductions. Not a big deal, since it would probably just be a one-time deposit at the end of the year if we max out IRAs and want to save more in the HSA, too.