Question

I entered a personal contribution to my HSA of $3500, but TT only reduced my federal tax due by about $500. That's not right is it??

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Yes, I believe it is correct.

Your HSA contribution reduced your taxable income by $3,500. You then would be refunded the taxes that were due on that $3,500.

If you are in the 14.3% tax bracket (a combination of the 22% and the 12% tax brackets) that would be $500.

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mwh1Author

Ah I see -- thanks!!

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