Maximum Deductible Ira Contribution
July 23rd, 2010Question: My wife has an HSA with a $5000 deductible. I have an IRA account. Can I roll over my IRA to her HSA?
The maximum contribution to a single-person HSA is $3,000, and my IRA is worth more than that. I’ve read that the IRS allows a one-time rollover from an IRA to an HSA without taxes or penalties, but if it’s MY IRA and HER HSA, does that still qualify? Thanks. I have the IRA check in my hand, but I figured I’d check and make sure this is legal before I deposit it into her HSA. Thanks.
Answer: No. You might be able to roll it into YOUR HSA, but not another person’s.
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