Where to Claim HSA Credit on 1040 2018 - A Complete Guide

When it comes to claiming your HSA credit on the 1040 form for tax year 2018, you need to ensure you do it correctly to maximize your savings. The HSA credit, also known as the Health Savings Account deduction, can help lower your taxable income and save you money on taxes. So, where exactly do you claim this credit on your 1040 form?

On your 1040 form for tax year 2018, you will claim your HSA credit on line 25. This line is specifically designated for the Health Savings Account deduction. You will enter the total amount of your HSA contributions for the year on this line, which will then reduce your taxable income accordingly.

It's important to note that if you have multiple sources of income or other deductions, you should consult with a tax professional to ensure you are claiming your HSA credit correctly and maximizing your tax savings.

Claiming your HSA credit on your 1040 form for tax year 2018 is more than just a simple step; it can lead to significant tax savings. Make sure to report your total HSA contributions on line 25 of the 1040 form, where the Health Savings Account deduction is located. This deduction will help lower your taxable income and could lead to a larger tax refund!