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Kazman2k
New Member

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

 
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Accepted Solutions
dmertz
Level 15

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

That's true.  This HSA limit for family HDHP coverage has not yet been updated in TurboTax for 2016 and Intuit is aware of this.  Expect this to be corrected in an update by January 6, 2017.

In the mean time, those using the CD/download version of TurboTax for planning purposes can use forms mode to temporarily override the limit used on Form 8889 to show $6,750 instead of $6,650 each place it appears on the form.  (The $1,000 catch-up for those age 55 or over is unchanged.)

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4 Replies
dmertz
Level 15

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

That's true.  This HSA limit for family HDHP coverage has not yet been updated in TurboTax for 2016 and Intuit is aware of this.  Expect this to be corrected in an update by January 6, 2017.

In the mean time, those using the CD/download version of TurboTax for planning purposes can use forms mode to temporarily override the limit used on Form 8889 to show $6,750 instead of $6,650 each place it appears on the form.  (The $1,000 catch-up for those age 55 or over is unchanged.)

dmertz
Level 15

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

This bug was fixed in December.  If you are using the CD/download version of TurboTax, be sure to update.

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

I used the CD version, which says that I was $250 over the allowed contribution. But I am below the limit + the $1000 over 55 additional contribution allowance. I said I would withdraw the $250 in order to continue with my taxes. But now I don't know what to do because I am not over. Any suggestions?
dmertz
Level 15

2016 Tax Return Software has HSA medical contribution limit @ $ 7650 for over 55. I believe it should be $ 7750.

Examine the Form 8889 prepared by TurboTax to see how TurboTax is coming up with a $250 excess contribution.
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