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Old 06-04-2008, 08:44 PM
Elle
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Default Re: One-time rollover from IRA to HSA

"Michael Siemon" <mlsiemon[at]sonic.net> wrote
- quote -

> One is allowed, one-time only, to roll-over an amount up
> to the year's
> current contribution limit, from an IRA to Health Savings
> Account. I did
> that this year, and more or less just assumed that would
> max out what I
> could contribute this year.
> However, subsequent to the roll-over, my HSA is still
> indicating that I
> can contribute the max amount. Was my assumption wrong?


Your assumption is correct: The sum of your one-time IRA
rollover and any other contribution to your HSA must be less
than the applicable contribution limit. Google for {IRA
rollover HSA limit} for citations such as
https://www.hsamember.com/faqs.shtml and
http://www.hsatrusteeservices.com/hsa_application. It also
passes the common sense test.

HSA's may be so new that those administrating them have not
stamped out all the bugs. This would explain why your HSA
paperwork apparently is incorrect.

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  #-1  
Old 06-03-2008, 09:30 PM
Michael Siemon
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Posts: n/a
Default One-time rollover from IRA to HSA

One is allowed, one-time only, to roll-over an amount up to the year's
current contribution limit, from an IRA to Health Savings Account. I did
that this year, and more or less just assumed that would max out what I
could contribute this year.

However, subsequent to the roll-over, my HSA is still indicating that I
can contribute the max amount. Was my assumption wrong? Is one in fact
allowed to make the one-time rollover _in addition_ to a regular, non-
rollover, contribution?

Anyone here know? or should this query go rather to misc.taxes.moderated?

------ Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.

 

Tags
hsa, ira, onetime, rollover
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