@georgiabulldogs111 wrote:
Ok, that is how it seemed to be, based on what I could find. So I have some from each paycheck put into my hsa (pretax, of course) So the only way to get the pretax benefit is via payroll deduction? If I transferred $2000 of after tax money into the hsa, can I claim that somewhere?
I'm afraid @xmasbaby0 missed the importance of the HSA account here.
The key fact is that the HSA can only be used to reimburse expenses that were incurred after the account was opened. As long as that condition is met, you can reimburse yourself after the fact and at any time you like when there are funds in the account. You are also allowed to make contributions of out-of-pocket funds, up to your annual maximum, of course. If you are not contributing the maximum through payroll, you can add out of pocket contribution by making a deposit directly to the HSA bank, probably via the same linked bank account you use to get your reimbursement.
That means it is possible to make a deposit, then reimburse yourself for some past expense as soon as the money is credited to your account, and take a tax deduction for the amount of the deposit.
Remember that the contribution maximum for 2021 is $3650 if you are covered by a single HDHP, and $7100 if you are covered by a family HDHP. Also, you can make a contribution for the 2021 year as late as April 15, 2022 (the tax filing deadline); but be aware that there will be some procedure to follow to notify the bank before you make the deposit that the incoming deposit is for 2021 and not 2022.
So yes, you can make a deposit to your HSA now for 2021 (if the bank is properly notified, and up to your annual maximum) and then withdraw it in a few days to reimburse yourself, and you will claim the tax deduction on your tax return. In Turbotax, contributions by payroll deduction (including your funds and any employer funds) are reported on your W-2 only. Later in the program it will ask for out of pocket contributions, that's where you will enter your additional contributions but don't enter your payroll deductions again.
