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Can I code a 2016 excess HSA contribution as a 2017 contribution?

Forum|Forum|7 years ago
June 3, 2019
1 reply
25 views

I contributed to a HSA in 2016 when I wasn't able to (claimed as a dependent on parents tax return). Am I allowed to have them code this as a 2017 contribution? I don't want to withdraw the funds if I am able to have them roll over the contribution and code it as 2017.

TurboTax Deluxe Online

Best answer by dmertz

You were never an individual eligible to make an HSA contribution prior to 2017. Since you were never an eligible individual, you must contact the HSA custodian an tell them so. (HSA custodians have a special procedure to handle this situation.) They will then remove the contribution and any earnings from the HSA account (the earnings will be taxable as ordinary income in 2017) and, if you choose, you can subsequently use the resulting cash to make an HSA contribution for 2017 if you are now eligible.

dmertzAnswer

Level 15

You were never an individual eligible to make an HSA contribution prior to 2017. Since you were never an eligible individual, you must contact the HSA custodian an tell them so. (HSA custodians have a special procedure to handle this situation.) They will then remove the contribution and any earnings from the HSA account (the earnings will be taxable as ordinary income in 2017) and, if you choose, you can subsequently use the resulting cash to make an HSA contribution for 2017 if you are now eligible.