Hi,
Here is my situation (MFJ so HSA limit for 2020 is 7100, and 2021 is 7200, both have HDHP for each year).
In year 2020, we over contributed by 3550, so on Jan 2021, we asked HSA to withdrawal and roll over the excess contribution to year 2021 (2000 for taxpayer 1 and 1550 for tax payer 2). HSA ended up contribute 1980 to taxplayer 1 and 1530 to taxpayer 2 for year 2021 (minus the 20 fee)
In Mar 2021, we noticed we over-contributed again for year 2021, so we asked HSA to wirhdraw
- Withdrawal 3000 from taxpayer 1 to our bank accounts.
- Withdrawal 2610 for taxpayer 2 to our bank accounts.
In 2021, we contributed through employer:
- $5940 for taxpayer 1
- $4600 for taxpayer 2
Now we received our 5498, which shows:
- Taxpayer 1: $7920 ($5940 from employer + $1980 from 2020 roll over)
- Taxpayer 2: $6130 ($4600 from employer + $1530 from 2020 roll over)
- Total $14050
Our 1099-SA shows:
- Taxpayer 1: gross distribution $5000, distribuition code 2 (excess distribution)
- Taxpayer 1: gross distribution $4160, distribuition code 2 (excess distribution)
Since we have withdrawan $5610 for 2021 (3000+2610), and the limit is 7200, we have still over-contributed by $1240.
My questions are:
- Our W2 does not show our 1980 and 1530 roll over from 2020, so where to type these info? (Since these 2 numbers counted in form 5498, I think we should report in Turbotax)
- Turbotax keeps telling us our excess contribution is $3340 (5940+4600-7200), it does not count in the 1980+1530 from rollover.
- We have typed our 2 1099-SA forms, but there is no where to show that the 5000 or 4160 distributions offset our excess contribution
- I think for 2021, our excess contribution withdrawals are only 3000 + 2610, not 5000 + 4160 (the delta is for 2020), so where to tell Turbotax such info?
- On the window "Let's enter XXX's HSA contributions", some times there are 2 cells to type, but sometime there is only 1 cell for taxpayer 2, not the second cell:
- Any contribution you personally made (not through your employer): I thought this is where to type the $1980 and $1530 numbers?
- Any contribution you personally made but withdrawal before Apr 18, 2022: I thought this is where to type the $3000 and $2610 numbers? But this cell some times do not show up for taxplayer 2 (some times do show up...)
I tried to look into Raw Tax Data and to see if I can edit form 5329 and 8889, but still don't get the result I want, as some cells are not editable. Thanks!
