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I'm showing a taxable distributions of $556.00 on my "your HSA summary" in Turbotax. How is that amount derived?
Can it be editted?
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I'm showing a taxable distributions of $556.00 on my "your HSA summary" in Turbotax. How is that amount derived?
Did you enter information from Form 1099-SA for a distribution?
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I'm showing a taxable distributions of $556.00 on my "your HSA summary" in Turbotax. How is that amount derived?
On the HSA Summary:
Taxable distributions -The amount that you took out of the HSA but not for qualified medical expenses. This amount is added to your income on line 21 (Other Income) on Schedule 1 (Form 1040).
As Annette noted above, this happens when you enter a 1099-SA but do not indicate that the entire amount of the distribution was for qualified medical expenses.
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