Author Topic: HSA Contributions, Deductions and Medical/Dental expenses  (Read 1221 times)

jeromedawg

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HSA Contributions, Deductions and Medical/Dental expenses
« on: February 18, 2017, 02:11:35 PM »
Hey guys

Just wanted to clarify something with HSA contributions. Currently my contributions are coming out of my paycheck pre-tax. I've been going through my 2016 taxes on Credit Karma and they have a section called "Health savings account (HSA) contributions and deductions" ("Generally, qualified medical expenses for HSA purposes are unreimbursed medical expenses that could otherwise be deducted on Schedule A (Form1040). See the Instructions for Schedule A and Pub. 502, Medical and Dental Expenses (Including the Health Coverage Tax Credit)")

With HSAs, especially if they are coming out of each paycheck pre-tax, there's no need to fill this section out right? It seems it would only apply if I'm making contributions to my HSA post-tax so that I can claim the deduction on them (so that they would ultimately be treated as if they were pre-tax contributions). Is that the right understanding?

Also, with deducting medical/dental expenses in general, is that something that can even be done now that I have an HSA?

bacchi

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Re: HSA Contributions, Deductions and Medical/Dental expenses
« Reply #1 on: February 19, 2017, 09:38:12 AM »
Correct, your W2 has already accounted for the HSA contributions (confirm this by looking at the numbers on your W2).

You can't double dip with both HSA deductions and Schedule A deductions. Schedule A has that 10% boundary as well.