Form 8889 Health Savings Account

Article ID: 59175  

Question
Form 8889 Health Savings Account

Answer

If contributions (other than employer contributions) were made to your health savings account, you may be able to take this deduction.

Qualifying for an HSA 

To be an eligible individual and qualify for an HSA, you must meet the following requirements.

  • You have a high deductible health plan (HDHP), described later, on the first day of the month.
  • You have no other health coverage except what is permitted under Other health coverage, later.
  • You are not enrolled in Medicare.
  • You cannot be claimed as a dependent on someone elses tax return.

Caution: If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an HSA contribution. This is true even if the other person does not actually claim the deduction.


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Views: 3286 Created on: Jun 15, 2013