Carry over from a HSA account

Calm2mom · ‎May 31, 2019

If i did not spend all of my HSA account in 2015 and that amount carried over into 2016, is it considered to be a contribution to the account in 2016?

MaryK1 · ‎May 31, 2019

No it is not a contribution for 2016 because it is not new money. An HSA is generally exempt from tax. You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Amounts that remain at the end of the year are generally carried over to the next year.

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View solution in original post

MaryK1 · ‎May 31, 2019

No it is not a contribution for 2016 because it is not new money. An HSA is generally exempt from tax. You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Amounts that remain at the end of the year are generally carried over to the next year.

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Carry over from a HSA account