topic How to report withdraw more than the exceed HSA contribution in the software? in Deductions & credits

How to report withdraw more than the exceed HSA contribution in the software?

honestadavid — Sun, 22 Mar 2020 22:55:16 GMT

The 2019 annual limit for HSA contribution is $3500, make contribution through payroll and over the contribution limit by $200 which report on W2. Made the excess contribution withdraw in Jan and accidently withdraw $300 instead of $200. Now the software only allow me to choose "part or full of the excess contribution $200" and didn't let me to put $300. Please advise where to put the accurate withdraw number $300 through the system.

Re: How to report withdraw more than the exceed HSA contribution in the software?

DaveF1006 — Sun, 22 Mar 2020 23:42:53 GMT

All that really matters is that you give that $200 back to the HSA trustee. If you withdrew an additional amount, you can return that excess back to your HSA account to restore the basis of your HSA account.

Re: How to report withdraw more than the exceed HSA contribution in the software?

ThomasM125 — Mon, 06 Apr 2020 19:33:21 GMT

You would indicate that you made a full repayment of the excess of $200. If you don't contribute the extra $100 back to the HSA, you will have to pay tax on it if you don't use it for medical expenses.