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November 24, 2024
Question

Additional Tax on Excess Contributions to Health Savings Accounts (HSAs).

  • November 24, 2024
  • 0 replies
  • 8 views

Hi,

 

I just realized that my HSA contributions were counted twice for tax year 2022 and 2023, which caused Additional Tax on Excess Contributions to HSA in both years. Is there a way to amend it?

 

I believe the issue is due to how the HSA contribution was entered to Form 8889 line 2 and line 9.

 

Each year I contribute max 100% my HSA via my payroll deduction so the HSA contributions will show up on Box 12 of my W-2 (code "W"), which will be loaded to Form 8889 line 9 when I imported W2 to TurboTax.  But when TurboTax asked me how much I contributed to HSA in that year (Do not include employer contributions), I said the amount I contributed to HSA as employer contributed $0, that was loaded to Form 8889 line 2.

 

Now TurboTax considers I have to pay Additional Tax on Excess Contributions to HSA.

 

Could you please help me on how to amend this?

 

Thank you.