When Do I Have to Make My 2018 HSA Contribution?

If you have a Health Savings Account (HSA) and are wondering about your 2018 contribution deadline, you're in the right place. The IRS sets specific guidelines for HSA contributions, including deadlines for each tax year. Here's all you need to know:

For the 2018 tax year, you have until the tax filing deadline - typically April 15th of the following year - to make contributions to your HSA.

However, if you file for an extension, you can make contributions until the extended deadline, which is usually October 15th.

Contributions made by the deadline can be claimed as deductions on your tax return for that year.

It's important to note that you can make contributions for the previous tax year up until the tax filing deadline, even if you have already filed your taxes.

Additionally, keep in mind that the contribution limits for 2018 are $3,450 for individuals and $6,900 for families. If you're 55 or older, you can make an additional catch-up contribution of $1,000.

If you have a Health Savings Account (HSA) and are pondering your contribution deadline for the 2018 tax year, look no further. The IRS establishes important guidelines regarding HSA contributions, including key deadlines. Here's everything you should know:

For tax year 2018, contributions can be made until the tax filing deadline, which often falls on April 15th the following year. This deadline allows you to maximize your HSA benefits.

If you opt to file for an extension, you have until the extended deadline, typically October 15th, to make HSA contributions. This gives you some extra time to add funds to your account.

What’s more, any contributions made before the deadline can be claimed as deductions on your tax return for that year, providing potential tax relief.

Moreover, even if you've already submitted your tax return, you're still eligible to contribute for the previous tax year until the tax filing deadline.

For 2018, please remember that the contribution limits are set at $3,450 for individuals and $6,900 for families. Plus, if you happen to be age 55 or older, you have the wonderful option to make a catch-up contribution of an additional $1,000.