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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I am a 66 year old woman working full time with full company

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I am a 66 year old woman working full time with full company benefits. One of the benefits is a HSA Account. I am trying to have my taxes prepared and am told since I am over 65 I cannot have a HSA Account. I have a $3,000 deductible and my firm puts in $1,500 and I put in $400 a year for a total of $1,900. This money is only used for medical expenses. I am now told by my tax preparer that I am over 65 and on Medicare. I do have Medicare A which came to me automatically once I turned 65 but I did apply for Medicare B since I am covered under my job for medical through the HSA program.   Since I did receive and used most but not all of the HSA money last year, how can this show on my taxes and do I have to withdraw from the program even though I do not belong to Medicare B?

You are not eligible for an HSA after you have enrolled in Medicare. If you had an HSA before you enrolled in Medicare, you can keep it. However, you cannot continue to make contributions to an HSA after you enroll in Medicare.


You will report the distributions from the HSA on Form 8889 -Part II under distributions and report this as used for medical expenses and hence....the distirbution will not be taxable.



Let me know if you have any question.


Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

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