HSA Contributions for 2019

Forum|Forum|6 years ago
November 14, 2019
2 replies
44 views

2019 TurboTax Premier is telling me I over contributed to my HSA by $100 this year. I am over 55 and contributed $8000 ($7000 Family + $1000 Catch-up) which I believe is allowable for 2019.

$7900 was the maximum 2018 deduction.

How do I clarify this with TurboTax?...Their feedback message center is not working.

TurboTax Premier Windows

rjs

Level 15

The 2019 software just hasn't been updated with all the new amounts yet. The early releases of the new software are known to be preliminary and incomplete. There will be numerous updates over the next couple of months before it is really ready to use. One of the updates will fix the HSA contribution limits. You can't file your tax return until sometime in January anyway.

RouteRickAuthor

Level 2

That is true but there are certain financial decisions that have to be made and executed prior to December 31, 2019. The only reason for purchasing tax software this early was to get a fairly accurate assessment of where I am. The $100 is not going to make a difference but I am somewhat disappointed with the limitations of the early edition. Understand it is not TurboTax's fault if the IRS has not given the guidance. Thx for the feedback.

OPM

Level 2

January 28, 2020 and I have the same problem as the OP had in November--claiming the over 55 family limit is $7,900 not $8,000. There's no excuse for it not being fixed by now, or last November for that matter, since the contribution limits were set over a year ago in 2018. Does anyone from Intuit read anything on these forums? How does one report a real bug like this?

BillM223

Level 15

Both the online and desktop TurboTax products are updated and available in terms of the HSA calculations and the 8889.

If you are using the desktop (whether Windows or Mac), have you updated your software?

If you see something different (say, $7,900 instead of $8,000), please tell us what product you are using (Online, Windows, Mac) and where you see this reference (on a form? on an input screen? If so, what is the heading on the screen?).

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OPM

Level 2

@BillM223 I am using the desktop version of TT Home & Business (Windows), and yes it is updated. I see this problem after going through the sequence to enter a 1099-SA (under deductions and credits/medical). In the middle of the sequence it correctly shows that my payroll contributions were $8000. I had an HDHP all year so there are no prorations etc. No special circumstances either (medicare, etc). On a subsequent screen it says "You may want to withdraw money from your HSA"/"It looks like you have an excess contribution of $100. This amount is being taxed an extra 6%." It asks me if I plan to withdraw the $100 on that screen, I say no. The ending "HSA Summary" screen has these two lines in it:

Taxable employer contributions $100

Tax-free employer contributions $7900

This is clearly incorrect. There is no excess contribution but TT thinks there is.