Question

If I use after-tax dollars to fund an HSA, do I get the tax back for those dollars? Federal and State? Does this require a different form?

Forum|Forum|6 years ago
June 5, 2019
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TurboTax Basic Windows

You get a tax deduction that reduces your federal taxable income, which should also flow through to the state taxable income. In Turbotax, your employer/employee contributions are captured from your W-2. Later in the HSA interview, you are asked if you made additional after-tax contributions. The employer/employee contributions go on line 9 of form 8889 and the after-tax contributions go on line 1 of the same form. As long as your total contributions are equal or less than your annual limit, and you are enrolled in a qualified insurance plan, you will get a tax deduction for the after tax contributions.

D

dpjarvis25

Hello,

I am no longer on company medical but I still have HSA account. This year I put a sum into the HSA bank to cover my medical. When I filled out my tax form I was charged tax on the amount that I put into my account. I just want to know why I am being taxed on those funds that were paid on post tax money?

K

KeshaH

To qualify to make contributions to an HSA you have to be covered under a high deductible health plan along with other requirements. You mentioned you're no longer on your company's medical plan, but do you still have this type of coverage outside of your company's plan? If not, you won't be able to take a deduction for the contributions made and you'll be penalized for excess contributions.