Can I Still Make 2018 HSA Contributions in 2019?

If you're wondering whether you can make Health Savings Account (HSA) contributions for the tax year 2018 in 2019, the answer is generally yes.

Here's what you need to know:

• The deadline for making HSA contributions for the previous tax year is typically the tax filing deadline, usually April 15th of the following year.
• For tax year 2018, you can make contributions until the tax deadline of April 15, 2019, to count towards your 2018 HSA contributions.
• Contributions made during this period can be eligible for tax deductions on your 2018 tax return.
• Make sure to specify that your contributions are for the 2018 tax year when making the deposit.

Remember that HSA contributions are subject to annual limits set by the IRS. For 2018, the contribution limits were $3,450 for individuals and $6,900 for families.

By making contributions to your HSA, you not only save on taxes but also build up funds for future healthcare expenses.

If you're still thinking about whether you can make contributions to your Health Savings Account (HSA) for the tax year 2018 in 2019, you're not alone. Many people wonder about this as the tax season approaches. The good news is, yes, you can!

It’s important to keep in mind that the deadline to contribute to your HSA for the previous tax year is generally aligned with your tax filing deadline, which for most people is April 15th of the year that follows. For example, if you want to make contributions for 2018, you have until April 15, 2019.

Contributions made within this timeframe are often eligible for deductions on your tax return for 2018, making it a smart financial move.

Remember to clearly state when making your deposit that the contribution is intended for the 2018 tax year. It’s a small step that can save you from potential confusion later.

Also, keep in mind that there are IRS-set annual limits for HSA contributions. In 2018, these limits were $3,450 for individuals and $6,900 for families, and these caps allow you to maximize your savings efficiently.

Not only do these contributions help you save on your taxes, but they also build up a safety net for future healthcare costs. Investing in your health savings account today can lead to better preparedness for unexpected medical expenses tomorrow.