RalphH1
Expert Alumni

Get your taxes done using TurboTax

As long as you remove your excess HSA contribution by the deadline, there is no requirement to file the actual amendment (which will be a corrected 2022 return, as discussed here) by that date. Nor is there a need to wait for a revised 1099 (as long as you have the correct numbers for the excess itself. Note that the earnings will be taxable on next year’s 2023 return). Of course, penalties and interest on anything you might owe start at the deadline, so that could be considered a reason to file it as soon as possible.

 

And (just a heads-up) there usually is more tax to pay in this scenario. That’s because even though the excess being withdrawn precludes the extra penalty, the money came from your checks (or from your employer) without being taxed, and that benefit has to be undone now (since it’s in your possession and not in the tax-favored account).

 

@GLR2023, we normally like to provide guidance on the TurboTax entries (and this all goes in the “1099-SA, HSA, MSA” section in “Deductions & Credits”). But I can’t tell from what you wrote exactly how you reported it the first time around (or whether you left it out completely). Feel free to re-post with any specifics about that, or any questions that come up as you’re amending, and we can help some more!

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