HSA Line 3 Smart Worksheet coverage

Forum|Forum|6 years ago
March 11, 2020
3 replies
24 views

Hello, I added $4,500 (over age 55) HSA self contribution on the EasyStep Medical screen. On form 8889 Line 3 Smart worksheet the Self-only coverage is $3,500. Should it be $4,500? Or is there a entry to enter age 55 additional contribution?

First HSA contribution this year, no deduction.

VictoriaD75

Level 12

TurboTax knows your age on the last day of the year based on your personal information reported. In 2019, the contribution limits are $3,500 and $7,000 respectively for self-only and family plans, with a $1,000 catch-up contribution for taxpayers over age 55.

Under the Deductions & Credits menu, confirm the following:

Expand the menu for Medical
Click Start/Revisit next to HSA, MSA Contributions
Confirm the account ownership and click Continue
Continue in through the screens until you reach Let's enter your HSA contributions
Stop here. If all of your contributions were through payroll deductions and reported on your W2, do not enter anything on this screen. If that is the case, either leave the box empty or type $0 in the box next to Any contributions you personally made

Review the screens to be sure that TurboTax does not indicate an excess contribution, as your limit should be $4,500 based on the information provided for 2019.

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public1Author

Level 2

Hello, The screens on Turbo Tax Premier 2019 desktop version are different. This is what is on the Premier:

Under the Deductions & Credits menu

* On Medical

* Click Update on 1099-sa, hsa, msa

* On "your hsa summary" Deduction $4,500, total distributions $0, taxable distributions $0, taxable earnings on excess contributions $0, tax-free employer contributions $0, Excess employer contributions withdrawn $0.

No excess contributions.

The $4,500 HSA contribution is self contributed, not from work.

Then the $3,500 on the Line3 worksheet coverage is correct?

BillM223

Level 15

"On form 8889 Line 3 Smart worksheet the Self-only coverage is $3,500. "

Yes, remember that this is just a worksheet and does not appear on the return.

"Or is there a entry to enter age 55 additional contribution?"

The IRS instructions for the 8889 say to put $3,500 for Self-only, then later say that you can add $1,000 if you are 55 or older. This is why Line 3 itself is $4,500, which is correct.

"The screens on Turbo Tax Premier 2019 desktop version are different. "

You are correct. Unfortunately, with our new system for fielding and answering questions this year, we no longer can see which version of the product you are using, and sometimes we guess wrong.

Your description of the 8889 is exactly what I would expect it to be.

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