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njcanahas
New Member

HSA Contribution

I am going through Turbotax and I am in the HSA section.  It asked me under the "Personal Income" section if I made personal contributions to my HSA.  I did contribute $3,000.  I am self employed and 59 years old.  Instead of reducing my Federal Taxes due, it actually increased them by about $200.   Shouldn't any HSA contribution reduce the taxes due?  I am confused.  Can anybody explain this?  Thank you

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1 Reply
DawnC
Expert Alumni

HSA Contribution

Have you gone all the way through the HSA section?   There are more questions about HDHP coverage after you enter your contributions.    An HSA contribution will lower your adjusted gross income...if you are qualified to contribute to an HSA.   There are penalties if you have an excess contribution to your HSA unless the excess amount is withdrawn before the due date of your return, including extensions.   HSA accounts

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