The maximum amount you can contribute to your health savings account (HSA) each year depends on multiple factors, including:
- The type of high-deductible health plan (HDHP) coverage you have
- Your age
- The date you became an eligible individual
- The date you stopped being an eligible individual
Go to this section in Credit Karma Tax: Health Savings Account (HSA)
For 2018, you can contribute to $3,450 for self-only HDHP coverage, and a maximum of $6,900 for family HDHP coverage. If you’re an eligible individual who is 55 or older by the end of the tax year, you may contribute an additional $1000.
You may want to consider reviewing the HSA section even if you don’t recall making any contributions to your HSA during the tax year. Your employer might have contributed to an HSA directly from your W-2 (box 12, code W). Additionally, if you withdrew money from the HSA account or if you’ve received a Form 1099-SA, you should complete the HSA distributions section in Credit Karma Tax.
Go to this section in Credit Karma Tax: HSA Distributions
What happens if I have excess HSA contributions?
Excess contributions made to your HSA above the IRS limits ($3,450 for self-only or $6,900 for family coverage with a catch-up contribution allowance of $1000 for those eligible individuals age 55 or older) aren’t tax deductible. Enter your HSA information into the Health Savings Account (HSA) section, and we’ll determine if any of your HSA contributions are taxable based on the information you provide.