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Are HSA contributions tax-deductible?

April 26, 2017contributions HSA tax-deductible

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Are HSA contributions tax-deductible?

3 Answers

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A. Money you deposit in your HSA qualifies for an “above-the-line” deduction. If a relative or friend makes a gift contribution to your HSA, you still receive the tax deduction. However, you do not get tax breaks on the contributions your employer makes.

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Yes. Contributions you make with pre-tax dollars are not considered taxable income. You may deduct any post-tax contributions you make to your HSA, from your taxable income on your tax return.

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Money you deposit in your HSA qualifies for an “above-the-line” deduction. If a relative or friend makes a gift contribution to your HSA, you still receive the tax deduction. However, you do not get tax breaks on the contributions your employer makes.