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Level 2
February 24, 2022
Question

HSA contribution limit

  • February 24, 2022
  • 1 reply
  • 2 views

Turbo Tax is telling me that, given my 10 months of participation in a HDHP (the last 2 months of the year I was on Medicare), my max contribution for 2021 is $3,833.  My calculation is that the max contribution for 2021 is $3,500.

 

12 month contribution limit for 2021 is 3,200 + 1,000 catch up contribution.  Divide $4,200/12 months = $350.  $350 x 10 = annual limit of $3,500.

 

Which is correct?

1 reply

Mike9241
Level 15
Level 15
February 24, 2022

$3200 is wrong it's $3600. in addition, since you're over 55 you can make an additional contribution for the full year of $1000

 

so $4600 times 10 divided by 12 = $3833.33. Turbotax is correct.

 

Mike9241