Can I change “other income” on Schedule 1 of your Form 1040?

[jtr111]

My Medicare kicked-in in February/2024 unexpectedly. I stopped the HSA contribution in Nov/2024 and withdrew the excess contribution. Turbo Tax does not calculate the excess contribution correctly using the interview questions. It only uses the IRS allowed max contribution amount divided by 12; however, I did not contribute the max amount and my employer contributed a seed money in January/2024. The "other income" on schedule1of 1040 does not reflect the correct excess contribution (from Feb to Oct).

Can I manually change the "other income" on schedule 1 of 1040 and how? Thank you!

[dmertz]

"Turbo Tax does not calculate the excess contribution correctly using the interview questions."

TurboTax calculates correctly.  Given that you correctly indicated to TurboTax that you were HSA eligible for only January and that you were covered by Medicare the rest of the year, TurboTax will correctly indicate that you (and your employer on your behalf) are eligible to contribute a total of only 1/12 of the annual maximum that would apply if you were instead an eligible individual the entire year.  Any amount contributed beyond that is an excess contribution includible in income and subject to penalty unless corrected by a return of excess contribution by the due date of your 2024 tax return, including extensions.

[jtr111]

No, TurboTax did not calculate correctly because I stopped my contribution in Nov. as said previously. I did not contributed 12 months in 2024. It's incorrect because it was calculated I had 11 months of contribution while I only had 10 months of contribution.

[dmertz]

You only had one month of eligibility:  January.  You are ineligible to contribute with respect to February through December because you were covered by Medicare for those months.