topic Re: HSA Over Contribution in Get your taxes done using TurboTax

HSA Over Contribution

jimsochor57 — Sat, 29 Feb 2020 18:28:41 GMT

TurboTax Premier 2019 is telling me that I have over contributed by $1,600.

I'm over 60 and worked all year for same employer with HSA plan. I am married.

My HSA statement from employer shows that my 2019 limit is $8,000. I contributed $4,800, which also shows on 5498-SA.

My wife is retired and covered by my employers high deductible family health plan with me for all of 2019. Neither of us receive Medicare.

Is my max limit for 2019 really $3,200?

Re: HSA Over Contribution

Opus 17 — Sat, 29 Feb 2020 18:54:01 GMT

Your employer and employee contributions are listed together in your W-2 and picked up automatically buy TurboTax. Later in the program, you are asked to provide additional deposits not made through the payroll system. You should not enter your payroll deposits again. Based on your figures, the error is exactly what we would be expected if you entered $4800 a second time when you should not have. Go back and run that interview again.

Re: HSA Over Contribution

LinaJ2020 — Sat, 29 Feb 2020 19:04:56 GMT

Your total HSA contribution limit should be $8,000. Click here to verify: 2019 HSA contribution limit. If your employer has reported the contribution amount on your W-2, you should have it coded as W box 12 on your W-2. You do not enter any additional amount in the program. See the image below:

To re-visit the HSA section, here are the steps:

@jimsochor57

After sign in to your account, select Pick up where you left off
At the right upper corner, in the search box, type in HSA and Enter
Select Jump to HSA
Follow the prompts
On-screen, Let's enter your HSA contributions
Follow prompts