HSA Contributions for 2019

[rhanleync]

Hello,

My Form 5498-SA and Box 12 on my W-2 both say I contributed $5,799.84 to my HSA with HealthEquity. I confirmed this with HealthEquity. My understanding is that I could contribute up to $7,000 for my wife and I. Yet TurboTax is telling my I over-contributed by $3,600. I don't understand this at all. Any help would be GREATLY appreciated!

Thanks,

Rich Hanley

[Critter-3]

Did you have a FAMILY HDHP and did you indicate so in the program ? 

The HSA is handled in 3 parts in the TT program :

First the contribution:

https://ttlc.intuit.com/replies/4557768

https://ttlc.intuit.com/replies/4785646

Next the limitations screen to confirm you are eligible to make the contributions:

Until you complete the HSA portion of the TurboTax interview to establish your eligibility for an HSA contribution, TurboTax will treat the amount entered on the W-2 form as an excess HSA contribution.

https://ttlc.intuit.com/replies/4788059

And lastly any distribution:

https://ttlc.intuit.com/replies/4787864

[BillM223 · Accepted solution]

What you did is this:

1. Your employer contributed $5,800 (rounded up). This is code W in box 12 on your W-2.

2. Then you entered this same amount as a personal contribution on the "Let's enter [name]' HSA contributions" on the second line, where it tells you not to enter anything contributed through your employer.

3. This makes an apparent total of $11,600 in contributions.

4. You are evidently 55 or over, so your actual HSA contribution limit is $8,000 for Family coverage.

5. $11,600 minus $8,000 is $3,600, which is the amount that TurboTax reported as the excess.

Please go back to the "Let's enter [name]'s HSA contributions" screen and enter 0 (zero) on the second line, where it says "personal" contributions - this is ONLY for amounts you sent direct to the HSA custodian, not through your employer.

[Critter-3]

Yes ... reading all the words on the screen is important ...

[rhanleync]

Thanks for the quick reply.!

I did indicate that I have a Family HDHP. And even after going through all HSA related questions I was still told I overpaid $3600. Despite that I contributed less than  $7000 between myself and my employer. So what would you suggest next?

Thanks!

Rich...

[BillM223]

My description fits your result perfectly. Are you telling me that you did not enter your $5,799.84 on the second line on the "Let's enter [name]'s HSA contributions" screen?

OK, if that line is zero, then do this to delete all HSA data and start over:

1. make a copy of your W-2(s) (if you don't have the paper copies)

2. delete your W-2(s) (use the garbage can icon next to the W-2(s) on the Income screen)

*** Desktop***

3. go to View (at the top), choose Forms, and select the desired form. Note the Delete Form button at the bottom of the screen.

*** Online ***

3. go to Tax Tools (on the left), and navigate to Tools->Delete a form

4. delete form(s) 1099-SA (if one), 8889-T, and 8889-S (if one)

5. go back and re-add your W-2(s), preferably adding them manually

6. go back and redo the entire HSA interview.

[rhanleync]

Thanks for your help!! That was the problem - I really appreciate the quick response!  

[DawnC]

You are welcome - glad you got it straightened out.  😉