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mattb1155
April 7, 2025
Question

HSA contribution deduction

  • April 7, 2025
  • 1 reply
  • 0 views

Why am I not getting a full deduction for my personal contribution to my HSA.  If I enter $0 in HSA my tax due is $1,800.  When I enter $4,150 in HSA my tax due is $900.

    1 reply

    M
    MinhT1
    April 7, 2025

    Your personal contribution to your HSA is a deduction which reduces your taxable income. It does not reduce your taxes due dollar for dollar.

     

    Your contribution to your HSA has reduced your taxable income by $4,150 and your tax liability by $900, which is correct. Your marginal tax rate is 22%.

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