HSA excess contribution

Forum|Forum|6 years ago
February 17, 2020
5 replies
41 views

I am a single head of household with dependents. In 2019 I funded $6900 in my HSA and used it in 2019 for me and family members, however, the software says that I have an excess contribution. No one has medicare. The children do not have HSA's in their names. I believe the family limit is $7,000 but I do not know what to do differently to enter information properly so it acknowledges that I've not over-funded. Thanks for your help!

TurboTax Home & Biz Windows

ThomasM125

Level 15

Did you contribute the $6,900 on your own, or were their contributions through your employer? Maybe the total contributed was more than the $6,900 if your employer made contributions as well.

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GeraanneAuthor

Level 2

I contributed this on my own - I am self-employed. There are no W-2's.

DaveF1006

Level 15

The 2019 HSA contribution level maximum will be $3,500 for individual coverage, and $7,000 for family coverage. Check your HSA entries in Turbo Tax to see if you answered the questions correctly.

First check to see if you checked yes, you were covered by a high deductible health plan(HDHP).
When you indicated yes, there will be a new screen that appears asking you your HDHP was a family plan or Self-plan. Make sure you have family plan checked.
If you have a spouse that also made contributions to a HSA, your combined contributions cannot be greater than $7000.This may or may not be a factor in your case.

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Anonymous

did you get a w-2 in 2019? if so is there a code W on it in box 12. if yes does what you contributed directly and the amount shown for code W exceed $7,000? if so you have excess contributions

the form was just finalized for 2019, so it might have been saying you had an excess because the program was using the 2018 amount.

other things to check, you'll have to review form 8889 line 2 line 1 should be family, line 2 only what you contributed line 9 the same as W-2 code W as above

NCperson

Level 15

after confirming the W-2 amount, did you answer any questions in TT where it asked if you contributed to an HSA? THAT could be the problem. That question is only about monies you sent to the HSA directly, it doesn't pertain to what was withheld in your paycheck