Get your taxes done using TurboTax

LittleFatSheep · ‎January 28, 2022

I kinda get what you mean, if in the custodian form I choose Option 2 or 3, then 2020 tax year is all set, but if I choose Option 1, I still need to deal with it?

My question is: why cannot I treat option 1 as:

I get a check (like option 2) for 2020 excess contribuion, so just like I choose option 2.
I then made a personal contribution (not employer contribution) using this check for 2021. Except that HSA custodian hold the check for me and made the contribution for 2021, instead of me receiving the check, and then make the personal contribution using the check?

If so, does that mean my 2020 tax is still ok, and I just need to add the 3550 to 2021 as PERSONAL CONTRIBUTION? Even in the contribution history screenshot (see previous responses) from HSA custodian, it does say my 2000+1550 are INDIVIDUAL CONTRIBUTION.

I don't know how does personal contribution to HSA works exactly, and if the 5610 withdrawal could consider as 3550 for the personal withdrawal and 2060 for the employer contribution? I do see the below screen that asks how much you personally contribute and how much you have withdrawan for the personal contribution, so my initial thought is that I should just say 3550 personal contribution and 3550 withdraw for the personal contribution.