HSA Last-Month Rule — Make a Full-Year HSA Contribution Even If You Weren’t Eligible All Year
What Is It?
The HSA last-month rule can let a taxpayer who is HSA-eligible on December 1 make the full-year contribution instead of a prorated amount.
What Most People Don’t Know
- The testing period is the real trap.
- Failing the testing period can trigger income inclusion and an extra tax.
- This is one of the fastest ways to increase a late-year HSA contribution.