Family HSA contributions

[diskusha]

My wife and I have a family HDHP that qualifies for an HSA.

I am over 55 and established the family HSA.

My wife does not have an HSA in her own name.

We contributed $7900 to the family HSA in 2018.

I received a 5498-SA with only my name.

How do we report the contributions to TT?

Thanks.

[NCperson · Accepted solution]

Form 5498 is for your information only; you do not report it on your taxes (which is why it's not a form that TT supoorts)

[diskusha]

Thank you.

I've heard that a Family HSA only applies to taxpayers with children, not to couples without children.

This makes no sense, but I cannot find any IRS definition of family that excludes couples.

How much can a married couple with a qualifying Family HDHP contribute to a Family HSA owned by the spouse who is over 55 years of age?

[PaulaM]

Family HSA includes spouses but has one owner. In TurboTax, you will want to answer the questions from the account owner's perspective, you in this case. Contributions are generally reported on a W-2 form in box 12.

If you made contributions outside of your employer (on your own to the custodian), then you will enter those in the HSA section. Do answer all the questions in the section. You can read more here. 

[NCperson · Accepted solution]

2018 limit is $7900 (family) and assumes one spouse is over 55

If the other spouse is also over 55, you can set up a separate HSA is that spouse’s name and take advantage of another $1000

No contributions permitted if you are 65

You have until April 15, 2019 to add to last years contribution

[diskusha]

Thank you!

[KCP1954]

We have a single HSA in my name. My wife turned 65 in March 2019. Is it too late to open a 2018 HSA in her name to qualify for the second $1,000.00 additional contribution?

[NCperson]

I do not see why not as it will be s 2018 contribution and the IRS measures age as of dec 31. Must be set up under her name and SS#


Also you wrote “single” - did you mean “family”

[KCP1954]

Yes it is a family HSA And we have contributed $7.700 so far. Will we need to split this amount for her HSA to get the $1,000 and to avoid me having access contributions?

[NCperson]

She can do $1,000 maximum as a single contributor but it must be a separate HSA with her SS#

You can sti contribute $200 to your HSA for 2018

So the maximum total is really $8900 if you do it right, ie both at least 55 but less than 65 and $7900 in one HSA and $1000 in the other

[KCP1954]

Thank you so much for your help. The more I searched for answers the more  seemingly conflicting information I found. I did find find information similar to what you provided so thank you for the clearing things up.