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How did turbotax determine that there is an excess HSA contribution?

 
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1 Reply
MayaD
Employee Tax Expert

How did turbotax determine that there is an excess HSA contribution?

HSA contributions made by you and your employer are in box 12 of your W-2 with the code W, make sure you didn't enter that amount again in the HSA section.

 

For 2024, the maximum combined total that you, your employer, and/or any other eligible person can contribute to your HSA account is:

  • $4,150 if you're under 55 at the end of 2024 and are covered by an individual (self-only) HDHP;
  • $8,300 if you're under 55 at the end of 2024 and are covered by a family HDHP;
  • $5,150 if you're 55 or older at the end of 2024 and are covered by an individual (self-only) HDHP;
  • $9,300 if you're 55 or older at the end of 2024 and are covered by a family HDHP.

However, the above limits are prorated depending on the number of months you were covered by an HDHP and had no additional health coverage. If you were only covered by an HDHP for part of the year, your contribution limit may be lower than above limits.

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