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rmwardall
Returning Member

How do I amend my 2020 tax return for ineligible HSA contributions and distributions fixed after May 17th 2021?

I filed taxes last minute and hadn't realized that having secondary insurance had made me ineligible for my HSA. I went ahead and filed, mistakenly putting that I was on a family plan all year because I was on family, non high deductible insurance, when I should have listed self only high deductible insurance a few months of the year. Because it was last minute, I was only able to fix the contributions and distributions this week after the tax deadline. How should I go about amending this?
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2 Replies

How do I amend my 2020 tax return for ineligible HSA contributions and distributions fixed after May 17th 2021?

file an amended return. since the excess contributions were not withdrawn until after 5/17/2021 you will owe the 6 % penalty for 2020. any income withdrawn will be taxable in 2021. did you inform the administrator that you were withdrawing an excess contribution so it could figure the amount of income that needed to be withdrawn? 

rmwardall
Returning Member

How do I amend my 2020 tax return for ineligible HSA contributions and distributions fixed after May 17th 2021?

Yes I submitted all the proper forms for mistaken distribution and excess contribution. I just wanted to know what exactly I should put on my 2020 amended form - should I just be leaving the contribution and distribution numbers alone and reporting excess next year, or is there some way to report those amounts as excess contributions now and state that they have been fixed?

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