Hello,
I joined new employer in Dec-2016 and funded $1500 to my HSA account. Later in 2017, I realized after I filed my 2016 tax return that I'm ineligible to contribute to HSA since my spouse had FSA. I didn't do any HSA contributions nor took any withdrawals in year 2017.
How do I correct above situation? I plan to take out $1500 as excess contribution by calling the HSA administrator before tax deadline and report it as "other income" in 2017 tax return. But wondering where in TT can I include the 6% excise tax for the year 2016. Also, do I need to pay additional 6% excise tax for year 2017 or am I good for 2017 since I took the withdrawal of excess contribution before tax deadline.
