I calculated my prior year excess contributions (~$2400), and I have been on a High Deductible HSA for all of 2024. However, TurboTax is claiming that I have excess contributions of almost $10K, which includes my total contribution limit in a tax year. I do not have these funds in my HSA, as I regularly withdraw for medical expenses throughout the year, so I do not have the option to withdraw the "excess funds". My only options to proceed in TurboTax are to withdraw as much as possible (a small amount will still be taxed 6%) or withdraw nothing and be taxed 6% of the assumed $10K.
posted
last updated
March 28, 2025
2:39 PM