Hi Basith!
Great questions!
1) You can only contribute funds to a Traditional or ROTH IRA with after tax funds. While you may be eligible to claim an income tax deduction from contributing funds to a Traditional IRA, you can only contribute to an existing or open account up $6,000 or $7,000 if you are age 50 or older.
https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-l...
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...
2) Yes, again, regarding HSA contribution with after-tax funds, as long as you don’t go over the limit for that given tax year.
Read further:
What are the benefits of an HSA?
You may enjoy several benefits from having an HSA.
- You can claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you don’t itemize your deductions on Schedule A (Form 1040).
- Contributions to your HSA made by your employer (including contributions made through a cafeteria plan) may be excluded from your gross income.
- The contributions remain in your account until you use them.
- The interest or other earnings on the assets in the account are tax free.
- Distributions may be tax free if you pay qualified medical expenses. See Qualified medical expenses, later.
- An HSA is “portable.” It stays with you if you change employers or leave the work force.
https://www.irs.gov/publications/p969
3) And, yes, you can use your HSA account to pay for the medical benefits of a spouse as long as they are for qualified medical expenses.
Read further:
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-a-wife-use-her-hsa-to-pay-fo...
I hope this is helpful to you.
