wgauden1
New Member

Executed a IRA to HSA rollover and normal IRA withdrawals. My taxable amount is reduced by twice my IRA to HSA transfer. taxable amount is too low?

 
dmertz
Level 15

Retirement tax questions

Make sure that you did not report any of the HSA Funding Distribution (HFD) as a personal HSA contribution.  If all of your HSA funding was by HFD, you should have nothing reported on Form 1040 line 25.  It's handled entirely by indicating in the follow-up to entering the From 1099-R from the IRA the amount that was transferred to the HSA.
wgauden1
New Member

Retirement tax questions

thanks for response...perhaps there is a subtlety in 1099R reporting follow up question...when direct rollover 1099R is being reported, there is a follow up question which asked how much of distribution was put in HSA personally by taxpayer, I guess the answer is 0.0, as it was all from direct rollover, not from contribution directly by taxpayer. When I use turbotax in this way, reporting the rollover, then using 0.0 as what I, as taxpayer put in HSA, it seems to be correct...but, kind of confusing.
dmertz
Level 15

Retirement tax questions

Answered in the comments.

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