Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

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Pioneer
Posts: 1
Registered: ‎10-20-2017

Marriage affect on FSA contribution

If you get married how does this affect your FSA contribution for dependent care.  Say me and my fiance wan to both contribute 5000 for the year 2018 but we plan on getting married in October.  Will we be hit since we are over the limit?

 

Also if I am planning on getting an HSA for my HDHP for the year 2018 should my soon to be spouse not get an FSA healthcare account?

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Valued Neighbor
Posts: 78
Registered: ‎02-28-2016

Re: Marriage affect on FSA contribution

[ Edited ]

Regarding HSA and Medical FSA question. My understanding is that you cannot contribute to both HSA and FSA (unless FSA is a limited purpose type). Contributing to both would violate the condition that in order to make HSA contributions you must not have other health plans.

 

"An employee covered by an HDHP and a health FSA or an HRA that pays or reimburses qualified medical expenses generally can’t make contributions to an HSA."

Refer to IRS Publication 969 for specifics.