Terry D EA Posted February 21, 2020 Report Share Posted February 21, 2020 Client has a pay stub showing company paid contributions to his HSA. There is also a section that shows contributions to the same HSA that was made on his behalf from his net pay by his employer. Aren't those contributions deductible as an adjustment to income on the 1040? Quote Link to comment Share on other sites More sharing options...
Possi Posted February 21, 2020 Report Share Posted February 21, 2020 If he made contributions in after-tax dollars, yes, those are an adjustment. I only have one client who does that. Contributions with work and contributions apart from work, for mine. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted February 21, 2020 Author Report Share Posted February 21, 2020 Thanks for confirming my thoughts. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted February 21, 2020 Report Share Posted February 21, 2020 14 hours ago, Terry D said: Client has a pay stub showing company paid contributions to his HSA. There is also a section that shows contributions to the same HSA that was made on his behalf from his net pay by his employer. Aren't those contributions deductible as an adjustment to income on the 1040? Just be sure they are AFTER tax contributions, and not before tax. Not always easy to tell from a pay stub, and taxpayers never seem to know the difference. 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 21, 2020 Report Share Posted February 21, 2020 If it's on a paystub, it's usually pre-tax payroll deductions plus the employer part, so ALL PRE-tax. If the client wrote a check to his HSA, that would be after-tax. 1 Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 21, 2020 Report Share Posted February 21, 2020 I have a client who had post tax HSA contributions deducted from his pay for a number of years. I had to get his final paystub each year and compare it to his W-2 to make sure. 3 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted February 21, 2020 Report Share Posted February 21, 2020 Having the final paystub every year is always a good idea. I'll have to add it to my organizer questions. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted February 21, 2020 Author Report Share Posted February 21, 2020 1 hour ago, Gail in Virginia said: Just be sure they are AFTER tax contributions, and not before tax. Not always easy to tell from a pay stub, and taxpayers never seem to know the difference. They are, this was verified with the employer as well. Quote Link to comment Share on other sites More sharing options...
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