HSA contribution made in 2025 for 2024

[svetlanazyuban]

Any contributions you personally made (not through your employer) - Are these contributions considered to be made during calendar year 1/1/2024 - 12/31/2024 towards 2023 and 2024, or
contributions made during fiscal year of 4/16/2024-4/15/2025 towards 2024 only?

[rjs]

If you make a contribution to your HSA between January 1, 2025 and April 15, 2025 you must tell the trustee or custodian of the HSA whether the contribution is for 2024 or 2025. If you don't notify the trustee or custodian that it's for 2024 they will assume it's for 2025.

Any contributions that you made from April 16, 2024 to December 31, 2024 are for 2024. Any contributions that you made from January 1, 2024 to April 15, 2024 are for 2024 unless you told the trustee or custodian that it was for 2023.

There is no "fiscal year" for HSA contributions.

[MindyB]

Neither.  They are contributions you would have made personally, outside of payroll, during the grace period between 1/1/2025 through 4/15/2025 that you elected to be counted towards 2024, rather than 2025.

[svetlanazyuban]

Thank you. If I understood it right -

It means that in the Line item 'Any contributions you personally made (not through your employer)' 

I should enter the sum/$ amount of contributions made outside of my payroll (e.g., via direct deposit to HSA) and elected to be counted towards 2024 by the current date?

Before filing/submitting a Tax Return for 2024, I guess it is better to contribute as much as I can/want [within the required limit for 2024 - $4150], so the contributed amount towards 2024 is valid on the Tax Form.

[MindyB · Accepted solution]

Yes that is correct. You can contribute additional monies, up to the limit, typically through EFT or check directly to your HSA provider and you will be able to deduct that on your 2024 tax return.  

One item to note for the future is that when you make personal contributions to your HSA, you do not get a break on payroll tax, as you would with a payroll contribution. So in the future if it is possible to make the contributions via payroll, that will benefit you.