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Deductions & credits
The annual HSA contribution limit for 2019 is $7,000, plus a $1,000 if the owner of the HSA is 55 or over.
NOTE: HSAs are owned by the individual, not jointly (like IRAs). Therefore a single HSA cannot have $2,000 extra. Instead, the $1,000 is added to the limit of each person's HSA. Another way to say this is that while it is true that a family unit both 55+ can contribute a total of $9,000, at least $1,000 must go into each HSA.
This means that the maximum for each HSA in this context is $8,000. And since form 8889 is printed for each taxpayer, the $8,000 limit on form 8889 is correct.
Remember, there is no such thing as a joint HSA, nor a joint 8889.
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March 12, 2020
7:14 AM