Sam and Carol are married and will file a joint return. Sam is 54 years old, and

Question

Sam and Carol are married and will file a joint return.

Sam is 54 years old, and Carol is 57 years old.

Both were enrolled in self-only coverage High Deductible Health Plans (HDHPs) through their employers for the entire year of 2015.

Sam and Carol each have an HSA.

Both have contributed the maximum amounts to their HSAs in 2015.

Sam and Carol are both U.S. citizens and have valid Social Security numbers.

False

Sam and Carol are married and will file a joint return.

Sam is 54 years old, and Carol is 57 years old.

Both were enrolled in self-only coverage High Deductible Health Plans (HDHPs) through their employers for the entire year of 2015.

Sam and Carol each have an HSA.

Both have contributed the maximum amounts to their HSAs in 2015.

Sam and Carol are both U.S. citizens and have valid Social Security numbers.

5. Sam and Carol are both eligible to increase their contribution limit because Carol is age 55 or older. True

False

The amount that can be contributed to an HSA depends on the following: A. Taxpayer's age and type of HDHP coverage B. Date the taxpayer became eligible C. Date taxpayer ceases to be eligible D. All of the above

Explanation / Answer

5. True

Individuals who will be at least 55 years of age by the end of a tax year may also make “Catch Up” contributions of $1,000 above the maximum into the HSA.

6)

The amount that can be contributed to an HSA depends on the following:

Ans:

A. Taxpayer's age and type of HDHP coverage

The amount that can be contributed to an HSA depends on the age and type of HDHP coverage.

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