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Turbo tax says I made an excess contribution to my HSA ($2500) in 2023 and that I cannot withdraw at this time. I didn't make any extra contributions.

I am not sure what to do at this point.
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1 Reply
BillM223
Employee Tax Expert

Turbo tax says I made an excess contribution to my HSA ($2500) in 2023 and that I cannot withdraw at this time. I didn't make any extra contributions.

OK, in 2023, did you make excess HSA contributions (you said no?)? Do you have the CD/download version of TurboTax? If so, then got into Forms mode (upper right) and look for Carryover Wks (worksheet), and see if there are entries in lines 11a and 11b for 2023. These would be the excess contributions carried over from 2023.

 

If you are using Online, there is no way to look this up until you pay for the product.

 

On the other hand, if you have your 2023 return, then look for the form 5329 on your 2023 return. Look for line 47 in Part VII, and tell us what the entry is there.

 

TurboTax is correct that you cannot withdraw the 2023 excess now - it had to be done by April 15, 2024. So let's look at your 2023 return and see what happened.

 

We need to know what type of HDHP coverage you had in 2023, how many months you had it, and how much was contributed to your HSA in 2023, and in 2024 for 2023. You can find this on your form 8889 on your 2023 return.

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