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HSA Excess Contributions but spent a majority of the amount.
As I started a new job I signed up for their HSA program. I only contributed $325 in 2019 on my HSA card. I spent $250 of those funds, so I have a balance of $75. TurboTax is saying I have an excess of $325 and is asking if I want to pay the taxes on the $325 or withdraw it. How can I have $325 in excess funds if I spent $250 on it? Shouldn't the excess be $75 and not the full $325 contributed? I'm really confused. Also, I have spent more of my HSA funds since 2019 on prescriptions. Please help.
‎February 5, 2020
8:42 PM