Health Savings Account
Are you funding a health savings account (HSA) in conjunction with a high-deductible health plan (HDHP)? Smart move. You get an above-the-line deduction for contributions to the HSA, assuming you made them with after-tax money.
If you contributed pretax funds through payroll deduction on the job, there’s no double-dipping—so no write off. In either case, you need to file a Form 8889 with your return. The maximum contribution for 2018 is $6,900 for family coverage and $3,450 if you’re an individual. If you’re 55 or over at any time in the year, you can contribute (and deduct) another $1,000.
