WebDec 8, 2024 · However, because the adult child is no longer a tax dependent, the parents can’t use their HSA funds tax-free for the adult child’s eligible medical expenses; the adult child would need to use ... WebJan 12, 2024 · However, the child can also claim self-only coverage (and contribute to their own HSA) if they are not a dependent. See the article Your Adult Children Can Open an HSA for more information. Note: if you need help with Line 1 or any Line in Form 8889, please consider using my service EasyForm8889.com to complete Form 8889.
Can I spend HSA dollars on my adult child on my plan?
WebBut then go on to say the adult child can contribute $6900. The only $6900 amount is the family contribution max for 2024 or the max out of pocket for an individual in 2024. What I would do. I wouldn't contribute to the HSA yet, until tax filing time. You can use TurboTax to model a tax return and plug in the HSA contribution. Webeligible individual, the other spouse may not contribute to an HSA, notwithstanding the special rule in section 223(b)(5) treating both spouses as having family coverage. Q&A-31 of Notice 2004-50. An eligible individual who attains age 55 before the close of the calendar year may make a catch-up HSA contribution (up to $600 in 2005). eastleigh household recycling centre
When Your Health Plan Dependent Is No Longer Your Tax …
WebYour dependent that you can claim on your tax return Your adult child(ren) who will not attain age 27 by the end of the calendar year A domestic partner is not considered a spouse under federal law, so a domestic partner's medical expenses cannot be reimbursed under your WageWorks account unless the domestic partner is a “qualifying relative ... WebMay 17, 2024 · If your child is over the age of 18, on your high deductible health plan (HDHP), and is still a taxable dependent, you can continue to use your HSA funds to … Web2024: $3,650 (Individual), $7,300 (Family) Once you reach age 55, you may also be eligible for an HSA catch-up contribution, which allows you to add an extra $1,000 per year. This … eastleigh hub bishopstoke road