Can i file my return claiming an HSA contribution before its made, as long as the contribution is made by the filing deadline?

[sthornburgh8]

I am looking to make an excess contribution (out-of-pocket) but have not yet done so.  Am I allowed to claim this on my return as long as I make the contribution by the filing deadline?  (similar to what the IRS allows with a traditional IRA)

[HelenaC · Accepted solution]

Yes, you can. You can make contributions to your Health Savings Account (H.S.A.) for 2015 until April 18, 2016. If you fail to be an eligible individual during 2015, you can still make contributions, up until April 18, 2016, for the months you were an eligible individual. 

You don't have to wait until you've made your H.S.A. contribution for the year to file your income taxes. As long as you make the contribution before your tax filing deadline, you can claim your contributions on your taxes. For example, if you're going to use money you won't receive until March to make your contribution, you can still file your taxes, claiming a deduction for the contribution before the contribution is actually made

If you claim an H.S.A. deduction and then find you don't have the money to cover the contribution, don't panic. As long as you amend your return and pay any taxes you owe by April 18, you won't face any penalties. You can file an amended return by filling out Form 1040X and mailing it in.

Related information:

IRS Publication 969 Health Savings Accounts