One common question that HSA account holders often have is whether they can contribute to their HSA for the previous tax year in the current year. Well, the good news is that, yes, you can contribute to your HSA for the previous year up until the tax filing deadline for that year, which is usually April 15 of the following year.
So, if you want to make a contribution to your HSA for the 2017 tax year in 2018, you have until April 15, 2018, to do so. This flexibility allows you to catch up on contributions or make any additional contributions to maximize the benefits of your HSA.
Keep in mind that contributions made for the previous year must be clearly designated as such when you make the deposit. You can specify this to ensure that the contribution is correctly attributed to the previous tax year.
If you're wondering about your Health Savings Account (HSA) and whether you can make contributions for a previous tax year, you’re in the right place! It’s important to know that you have the flexibility to contribute for past years up until the tax return deadline, typically April 15 of the following year.
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