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Deductions & credits
It was my husband's HSA. He went on Medicare April 2022 and we started the HSA deductions from his check in February 2023, not knowing wasn't allowed. I started Medicare Fall of 2024 and learned this and we stopped his deductions at work immediately. So, if I go ahead and use the bal in HSA now, to take down to $0, then when amend 2023, I say on Turbo Tax the amount that was contributed and incorrect, and it will list it as income to be taxed and a penalize the amount at 6% for 2023. Additional penalty for 2024?
March 13, 2025
8:15 AM