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Level 1
June 1, 2019
Solved

Carry over from a HSA account

  • June 1, 2019
  • 1 reply
  • 13 views
If i did not spend all of my HSA account in 2015 and that amount carried over into 2016, is it considered to be a contribution to the account in 2016?
Best answer by MaryK1

No it is not a contribution for 2016 because it is not new money.  An HSA is generally exempt from tax. You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Amounts that remain at the end of the year are generally carried over to the next year.


1 reply

MaryK1Answer
Level 11
June 1, 2019

No it is not a contribution for 2016 because it is not new money.  An HSA is generally exempt from tax. You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Amounts that remain at the end of the year are generally carried over to the next year.


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