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All associations that elect to be taxed as a homeowners association are entitled to a speciï¬c $100 deduction from its taxable income. This means that associations with relatively small amounts of taxable income could have their tax liability eliminated by the application of the speciï¬c $100 deduction.
Deductible Contributions. Only contributions that you make to your HSA out-of-pocket are deductible on your tax return. Contributions that your employer makes on your behalf aren't included in your taxable income to begin with, so you don't claim a deduction for them on your federal income tax return.ax Reporting. To claim a deduction for your HSA contributions, you have to first complete Form 8889. Include both the contributions you made and the contributions made by your employer.