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Does anyone know how to remove the excess employer contributions withdrawn amount from the hsa summary? I received a corrected W-2c and updated W2 but excess still shows.

Original W2 had 12a W as 3600 and showed excess employer contributions withdrawn as $500 on HSA summary. Received Corrected Wage and Tax Statement W-2c, updated my W2 box 12a W to 3100 however HSA summary still showing excess contribution of 500 with no way to delete.
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MayaD
Employee Tax Expert

Does anyone know how to remove the excess employer contributions withdrawn amount from the hsa summary? I received a corrected W-2c and updated W2 but excess still shows.

Excess contribution are reported on form 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts. 

Taxpayers use Form 5329 to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs. It is also used to report carryovers of any of the above.

 If the excess contribution is the only thing reported on that form, you can delete the form.

  1.  Sign into your account and select your current return
  2.  Select Tax Tools on the bottom left and then Tools 
  3.  Select Delete a Form 
  4.  Find the form and select delete next to it

How do I preview my TurboTax Online return before filing?

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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2 Replies
MayaD
Employee Tax Expert

Does anyone know how to remove the excess employer contributions withdrawn amount from the hsa summary? I received a corrected W-2c and updated W2 but excess still shows.

Excess contribution are reported on form 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts. 

Taxpayers use Form 5329 to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs. It is also used to report carryovers of any of the above.

 If the excess contribution is the only thing reported on that form, you can delete the form.

  1.  Sign into your account and select your current return
  2.  Select Tax Tools on the bottom left and then Tools 
  3.  Select Delete a Form 
  4.  Find the form and select delete next to it

How do I preview my TurboTax Online return before filing?

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Does anyone know how to remove the excess employer contributions withdrawn amount from the hsa summary? I received a corrected W-2c and updated W2 but excess still shows.

Thanks @MayaD

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