The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: HDHP and HSA Question||Date: 2/16/2011 9:10 PM|
|Author: foo1bar||Number: 112312 of 125696|
Also, why did my w2 say my employer contibuted $3400 when they only gave me $800 and I contributed $2600?
You didn't contribute $2600.
You took a $2600 pay cut, and they put in an extra $2600 for you.
Then I claim on my return as taxable income.
Only if you took the money out.
Then I say what I spent it on and it is again non taxable?
If you took it out to spend it - yes.
So, what I did not spend I ended up paying taxes on?
Only if you didn't leave it in an HSA account.
(So leave it in the account for next year or year after or ...)
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