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Oops, tax error 2023. do I fix it or let t go? HSA account
#4
HSAs are deducted from your income prior to taxation—in essence, they reduce your income and your taxed amount is based on this reduced amount. If you don’t spend it, cool, it just rolls over. But if you do spend it, it becomes taxable income. How it affects you depends on how you do your taxes. I have an HSA; I generally take the standard deduction as I don’t have nearly enough in deductions to make it a viable route to take the schedule A even maximizing my health insurance deduction.

In my case, I would be filing an amended return. But my case isn’t yours.

Edit: I’m not a CPA, not a tax advisor. Anything I say isn’t to be taken as advice.
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Re: Oops, tax error 2023. do I fix it or let t go? HSA account - by Diana - 03-17-2025, 11:23 PM

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