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Get your taxes done using TurboTax
Thank you,
Will Turbo Tax then give me an amount of an excess HSA contribution , maybe in the HSA Summary page ? So that I will know exactly how much excess contribution I made to then request a withdrawal of that amount from my HSA account? Once I withdraw an excess amount from my HSA account, will TT then ask what the amount of the HSA excess amount I withdrew ? It looks like there is a place for that on form 8889S Line 14 C Return of excess contributions. I am trying to avoid any penalties for excess HSA contributions and from my research I think the only way to rectify that is to withdraw the excess amount and indicate that you did that on your tax return. My HSA account gives the options for a withdrawal 1. issued back to me, or 2.moving that excess amount to contribute to that same HSA account for the year 2025. But I read that if you have the excess amount moved to the subsequent year it is then counted as a carryover and you are still penalized the extra 6% for HSA over conribution each tax year until you actually withdraw that overage. I just want to be sureI rectify any overage in order to avoid any penalties now.
Thanks