What are the penalties for having both an HSA and an FSA in the same year?
Our situation was unintentional... but either way, here we are. My wife's company insurance auto-signed her up for an FSA and wouldn't allow her to change it after the fact. I had already elected continued the HSA I've had for a few years through my company's insurance plan.
What do we need to do about this situation come tax time? Does the amount of money contributed affect any potential penalties?
Thanks!
