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Retirement tax questions
Yes, I noticed that the earning amount is included on line 8f of Schedule 1 (1040) for the 2023 return.
On my 2022 return, I manually reported the excess contribution $2000 on Schedule 1, line 8f, by declaring "other income" but I did not include the earnings $50. I forgot to include the earnings from the excess contribution.
For the 2023 return, TurboTax included the earnings amount $50, which corresponds to the number in box 2 of the 1099-SA, on line 8f of Schedule 1 (1040). Could this result in an overpayment of taxes?
Additionally, should I still withdraw the amount listed in box 2 of the 1099-SA from my HSA to avoid receiving another 1099-SA from this account next year?
Thank you!
‎April 9, 2024
6:28 PM