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mffortmann
New Member

I'm being told I have overfunded my HSA by the turbotax software for 2020. Why is it saying that when my contributions for 2020 were 2710 and annual limit is 3550?

 
2 Replies
Opus 17
Level 15

I'm being told I have overfunded my HSA by the turbotax software for 2020. Why is it saying that when my contributions for 2020 were 2710 and annual limit is 3550?

Did you double enter your contributions? Contributions made by payroll deduction are listed in box 12 of your W-2 and picked up automatically by TurboTax. This includes both employer employer match, as well as your own contributions by payroll deduction. Later in the program when you are asked about additional contributions, you should only list contributions that you made out of pocket and not through payroll.

 

Also, you must indicate that you had qualifying insurance for all 12 months of the year. You may need to review your W-2 and the HSA section to check your answers.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
mffortmann
New Member

I'm being told I have overfunded my HSA by the turbotax software for 2020. Why is it saying that when my contributions for 2020 were 2710 and annual limit is 3550?

I went back and check and sure enough, I clicked the wrong button as to whether I had a HDHP. Thank you!!

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