topic High deductible health plan deduction for georgia 2019 in Get your taxes done using TurboTax

High deductible health plan deduction for georgia 2019

Egoydich — Sat, 08 Feb 2020 18:17:01 GMT

Hi all - preparing 2019 georgia return and the turbotax info regarding deductibility for HSA contributions is a little confusing? We contributed $3,000 to our HSA because we have a high deductible family plan with a $3500/7500 individual/family out of pocket maximum. Can anyone please help on whether I can use that $3,000 contribution as a deduction? I’ve reviewed the Georgia instruction booklet but if was even more confusing.

Many, many thanks!!!

Re: High deductible health plan deduction for georgia 2019

Egoydich — Sat, 08 Feb 2020 20:03:04 GMT

any fellow Georgians out there wondering about this?

Re: High deductible health plan deduction for georgia 2019

MaryK4 — Sat, 08 Feb 2020 21:52:58 GMT

Georgia allows you to deduct your health insurance premiums (what you paid for the insurance ) if you have a high deductible plan BUT you can only do this if you did not deduct the premiums elsewhere on your federal tax return (like the Schedule A medical expenses or Self-Employed Health Insurance deduction).

@Egoydich

Re: High deductible health plan deduction for georgia 2019

Egoydich — Mon, 10 Feb 2020 01:02:58 GMT

@MaryK4 - just to confirm - I can deduct my my Georgia taxable income the total premiums paid for 2019?

Thats like $2,352 in annual premiums? We are not itemizing and these were paid with pre-tax dollars.

Many thanks

Re: High deductible health plan deduction for georgia 2019

MaryK4 — Mon, 10 Feb 2020 01:09:01 GMT

No, I realize I was not clear re-reading my answer above, you cannot deduct pre-tax premiums.

@Egoydich