Health Savings Accounts

[GaryCPA]

I just downloaded the desktop version of TurboTax Deluxe and am doing some "planning". I notice that the HSA limit has not been updated to the 2018 rates - it is still limiting the contribution to the 2017 level.

[Carl]

That's all you noticed? Heck, 99% of the 2018 program is not current yet. Mostly because the IRS hasn't released the necessary forms for the 2018 tax year, and I don't see that happening any time soon at this point.

[GaryCPA]

I realize a lot is up in the air. BUT, the HSA limits were announced for 2018 LAST year! Why wouldn't they be in the new software? Yes, forms are still in process, and there's much the IRS has to release yet - but this isn't one of them.

[Carl]

The forms ***ARE*** one of them. Until the IRS approves and releases the necessary forms in electronic format, they will not be included in *any* tax preparation software program by *any* provider of said program. In fact, there are a vast number of forms not released yet, which is why at this point, you can't even use TTX 2018 to accurately estimate your tax liability.