BillM223
Expert Alumni

Deductions & credits

"I think if I withdraw $3,750 (my entire HSA contribution in 2021) " So you contributed $3,750 to your HSA in 2021, and TurboTax told you that the entire $3,750 was in excess, right?

 

Yes, you can withdraw that as an excess contribution (use these words to the HSA custodian), and then turn around and make a personal/direct contribution to your wife's HSA BEFORE April 18th.

 

The first action (your excess) will add 3,750 to Other Income on line 8 of Schedule 1 (1040), but the second action (the contribution to your wife's HSA) will subtract it back out again on line 13 of Schedule 1 (1040).

 

So it seems like you understand it now.

 

 

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