@jdwyo wrote:
I turned 65 in March of 2022 - I allowed myself two (2) months of family contributions $7,300 x 2/12 = $1,216.67 and two (2) months of excess contributions $1,000 x 2/12 = $166.67 for a total contribution of $1,383.33
My wife turned 65 in April of 2022 - I allowed her three (3) months of family contribution $7,300 x 3/12 = $1,825 and three (3) months of excess contributions $1,000 x 3/12 = $250.00 for a total contribution of $2,075.00
TurboTax indicates that one of us has exceeded our contribution by $1,216.00 which equals my share of the family contribution. My retirement medical ceased the 1st of the month in which I turned 65 (March). The plan allowed me to keep my wife on our retirement HD family plan until the 1st of the month in which she turned 65 (April).
Your combined overall family limit is $1825. Then you get a personal catch up contribution of $166 (self) and $250 (spouse). Because you contributed $1216+$1825+$166+$250, you have an excess contribution of $1216.
It's not actually important who the excess is assigned to. If you were filling out the form 8889s by hand, the person with the excess would be the person whose form was filled out second, based on how the instructions for the form are written.
Either you, or your spouse, needs to withdraw $1216 as a "return of excess contribution." It would also work if you withdrew $608 each. It doesn't matter, as long as your contribution is equal or less than $1216+166, your spouse's contribution is less than $1825+$250, and your combined contribution (before the catch-up amount) is also equal or less than $1825.
Yes, the catch-up is separate.
