I made excess contributions prior to 2023 when I did not have a HDHP and removed the excess amount on april 18th, 2024. I received and entered the 1099-SA showing the excess amount dispersed with the correct code 2 -Excess Contributions for my HSA.
The next question is "Excess contributions deducted from your wages"
I've tried both yes and no here and doesn't make any difference.
The "Here's what we have so far" page shows the 1099-SA with correct box1 amount and I have to click "done"
After saying no to inheriting the HSA, the question is "did you put money into an HSA in 2024?" with a "note" stating I have an excess contribution carryover from last year.
I have tried answering yes and no here, and pretty sure it makes no difference.
I say no to Medicare question and I did have an HDHP in 2024 and turbotax ways my maximum contribution limit is $4150, I click continue.
"Enter last year's excess contribution" popultates with form 5329, line 48. This amount matches what I removed as reflected in the 1099-SA. I click continue.
"You may want to withdraw money from your HSA" Clicking "okay I will withdraw excess amount" and "I will make/have made some excess contribution withdrawal" both result in saying "Unfortunately, all of your excess amount is caused by a prior year excess contribution and its too late"
Maybe I'm wrong, but I would think I should be able to contribute this year and turbo tax should be subtracting the excess contribution amount it thinks I still have. The net result is preventing me from contributing 4150 in 2024, please let me know if there is something that can be done, preferably while still being allowed to e-file. Thank you!
