BillM223
Employee Tax Expert

Get your taxes done using TurboTax

"Imported the $2,831 distributions and $900 contributions, but I had to manually add the $3,600."

 

PLEASE, undo the adding the $3,600! If you did the HSA contributions through payroll deduction, then you already have the deduction. The $3,600 is removed from Wages in boxes 1, 3, and 5 before your W-2 is printed; thus, your HSA deduction is that the contributions were never in your income in the first place.

 

By manually adding the $3,600, you are doubling your HSA deduction. I know it is confusing - but you can confirm this by asking your payroll people about the code W amount in box 12.

 

 

"Shows $200 for last years Excess Contributions." Did you over contribute in 2021? Then since $200 plus the $600 plus the $3,600 is still less than the $8,300 limit, the $200 was "used up" this year (2022), so you are done with it.

 

 

"Should I add more to 2022 to reflect our actual medical expenses?  Any implications one should be aware of?" Yes, you can add up to $3,900 to your 2022 HSA up until the filing deadline (tomorrow, April 18, 2023). BUT SEE THE NOTES BELOW:

1. Are you under Family HDHP coverage? If so, that $8,300 number if not accurate, because it will tell you and your spouse separately that you each have $8,300 (if your spouse if 55+) - but this is not accurate. Come back and tell us if this is the case.

2. If you make a contribution to your HSA by April 18, 2023, you MUST tell the HSA custodian that the contribution is for 2022 - otherwise, they will assume 2023.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"