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Level 3
posted Jun 4, 2019 8:54:01 PM

I overfunded my HSA in 2018. I noticed the error, and withdrew money in 2019. I have no 1099 for this. How do I enter this on TurboTax?

I withdrew all the excess and an extra 12 cents of extra income (It was only in for 1 month and earned basically no interest). My HSA says they'll only send me a 1099 next year (since the withdrawal was in 2019). What do I do?

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1 Best answer
Level 15
Jun 4, 2019 8:54:03 PM

The HSA is correct.  Enter the 1099-SA you did get.  Answer the questions about your qualifying health care plan and any additional after-tax contributions (list everything correctly since it will be reported to the IRS and you will get a letter if the figures don't match.)

Then Turbotax will tell you that you are over-funded, and ask you if you want to withdraw the excess before April 15.  Say yes and continue from there.

4 Replies
Level 15
Jun 4, 2019 8:54:03 PM

The HSA is correct.  Enter the 1099-SA you did get.  Answer the questions about your qualifying health care plan and any additional after-tax contributions (list everything correctly since it will be reported to the IRS and you will get a letter if the figures don't match.)

Then Turbotax will tell you that you are over-funded, and ask you if you want to withdraw the excess before April 15.  Say yes and continue from there.

Level 3
Jun 4, 2019 8:54:05 PM

Thank you so much. I didn't get any 1099-SA (I left the balance in the HSA). But I withdrew the interest earned on that excess as well. Do you know where I report that?

Level 15
Jun 4, 2019 8:54:06 PM

If you made no withdrawals of any kind in 2018 (including for medical expenses) then you would not get a form 1099-SA.  Because the interest was withdrawn in 2019, that will be income next year.

Level 3
Jun 4, 2019 8:54:07 PM

Thank you again. I really appreciate it.