No, you will need to correct your entries by going back to the section in TurboTax to review your entries. Open or continue your return in TurboTax.
- Select Search and enter 1099-SA.
- Select Jump to 1099-sa.
- Answer the questions and continue through the screens.
- After you enter your 1099-SA, we'll ask Did you spend all the money you took out on medical expenses?
- This is where you need to say NO
You will need to enter the amount that was not used to pay for qualified medical expenses. This amount will become taxable income and will be reported on Form 8889, line 16 and Schedule 1, line 8. The program will calculate the additional 20% penalty that will be reported on line 17b of your 8889 and Schedule 2, line 8.
