Hi - In 2019, I changed my job and so for the first 6 months (Jan - Jun 30th), I had coverage with employer X and starting August 1st - Dec 31, I had with employer Y. The reason, I didn't have coverage in July as due to the employer Y policy for all new employees. With both of these employers, I had an HDHP plan and I was making a contribution to the HSA account.
With employee X, I made a total contribution (reported on Box 12W) of $1313.00 (Jan 1st - Jun 30th)
With employee Y, I made a total contribution (reported on Box 12W) of $5472.41 (Aug 1st - Dec 31st)
Adding up the contributions, I made a total contribution of $6785.41.
Now, when I am filing my tax return with TurboTax, I saw that I am being charged a penalty for excess contribution to HSA.
My question is, considering I am filing as MFJ and $7,000 is the limit, why am I being charged a penalty?
