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Level 2
July 1, 2020
Question

HSA

  • July 1, 2020
  • 1 reply
  • 5 views

I started my first job after college on May 29, 2020. They have health insurance that qualifies for an HSA. I was claimed as a dependent on my parent's 2019 tax return and did not have any insurance prior to starting my job. However, I will not be a dependent on my 2020 tax return, but will file as single. Can I put money in an HSA in 2020?

    1 reply

    Level 15
    July 1, 2020

    If you are covered by a High Deductible Health Plan and cannot be claimed as a dependent in 2020 you can contribute to an HSA in 2020.