1156668
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bill76
New Member

I did 1-time transfer from Roth IRA to HSA. I tx my CONTRIBUTIONS from my Roth (not my EARNINGS). Is this deductible? How do I enter it? (cf https://tinyurl.com/sczr3sq)

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
dmertz
Level 15

I did 1-time transfer from Roth IRA to HSA. I tx my CONTRIBUTIONS from my Roth (not my EARNINGS). Is this deductible? How do I enter it? (cf https://tinyurl.com/sczr3sq)

It's extremely unusual for someone to do an HFD from a Roth IRA and it's usually unwise to report it as an HFD, so TurboTax does not support reporting it that way.  If the amount distributed from the Roth IRA, including the money transferred to the HSA, was less than the amount of your contributions to the Roth IRA, do not report the money as transferred to the HSA.  Instead, report the regular Roth IRA contribution and report a separate HSA contribution.  If the Roth IRA distribution was not a qualified distribution, TurboTax will calculate the taxable amount of the Roth IRA distribution on Form 8606 Part III (with the result being $0 taxable if it all came from your contributions), and you'll receive an HSA deduction of an equal amount.  If you report it as an HFD under these circumstances, the transfer is still nontaxable but you don't get the deduction.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question