Deadline Approaches for IRA, HSA Contributions

April 6, 2010 | HSA Government Info

You can ask the IRS for more time to file your tax return.  However that won’t extend the deadline for funding an individual retirement account or a health savings account for last year.  There’s a firm deadline of April 15th, 2010, for making a contribution to your 2009 traditional IRA, your 2009 Roth IRA, or your 2009 health savings account.

Tax deductions for HSA contributions are limited to maximum dollar amounts set per year:

  • For 2009: $3,000 for individual coverage, $5,950 for family coverage. $1,000 for additional catch-up contributions for people age 55 or older.
  • For 2010: $3,050 for individual coverage, $6,150 for family coverage. $1,000 for catch-up contributions.


    • Report your tax-deductible HSA contributions on IRS Form 8889, with the total contributions also reported on Form 1040.  Insurance companies report your HSA contributions to the IRS using Form 5498-SA.

    If you would like more information, please contact NEOS Consumer Driven Healthcare at 877-636-7472 or by visiting our website at www.NEOSCDH.com

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