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Started By
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re: Tax question - HSA?
Posted on 4/9/16 at 8:02 pm to buford4LSU
Posted on 4/9/16 at 8:02 pm to buford4LSU
No.
If you contribute right now, and you tell your HSA company to tag it as a 2015 contribution, then you can reduce your taxable income on Page 1 by an additional $3,000.
It will reduce your taxable income by $3,000, it will not reduce your tax owed by $3,000.
You are getting hung up on post tax and pre tax. Those are terms used to describe paycheck contributions. This is not a paycheck contribution, this is a deduction you are taking on your tax return.
You will fill out Form 8889. In Line 2 put both contributions from your paycheck and this new money (3,000). Line 9 will be paycheck contributions. Line 13 will be $3,000. Then on Form 1040, Line 25, you will put $3,000.
If you contribute right now, and you tell your HSA company to tag it as a 2015 contribution, then you can reduce your taxable income on Page 1 by an additional $3,000.
It will reduce your taxable income by $3,000, it will not reduce your tax owed by $3,000.
You are getting hung up on post tax and pre tax. Those are terms used to describe paycheck contributions. This is not a paycheck contribution, this is a deduction you are taking on your tax return.
You will fill out Form 8889. In Line 2 put both contributions from your paycheck and this new money (3,000). Line 9 will be paycheck contributions. Line 13 will be $3,000. Then on Form 1040, Line 25, you will put $3,000.
1
Posted on 4/9/16 at 9:59 pm to LSUFanHouston
This thread made me realize I didn't claim my HSA deduction for 2015 correctly but I already filed 
It wasn't much for 2015 so I am not going to refile. It would have slightly been in my favor.
I am maxxing it in 2016 so this is great reminder in the future.
It wasn't much for 2015 so I am not going to refile. It would have slightly been in my favor. I am maxxing it in 2016 so this is great reminder in the future.
This post was edited on 4/9/16 at 10:07 pm
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