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New Member
posted Jan 29, 2021 7:53:01 AM

My HSA tax free contribution amount is wrong and not accounting for being on family plan. How do I fix

I qualified for 7100 under family but turbo tax is calculating only 3750

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4 Replies
Level 15
Jan 29, 2021 10:23:40 AM

The family contribution limit is shared between you and your spouse.  If you are married and your spouse made a $3,750 HSA contribution, only $3,750 of family limit remains for your own HSA contributions.  If you and your spouse are both HSA eligible and one of you has family HDHP coverage, both are treated as having family HDHP coverage.

 

If you are not married or your spouse has made no HSA contribution, you've apparently somehow told TurboTax that you have self-only HDHP coverage rather than family coverage.  Revisit the HSA section and review the calculations on any Forms 8889 present in your tax return.

New Member
Jan 29, 2021 11:32:40 AM

Thank you for the reply. when I will filling out my section I noted that I had self coverage in Jan and then family coverage Feb-Dec (my son was born in Feb and added to my insurance), Turbotax correctly noted that my limit for the year was 7100 but when I get to the summary page it said my limit was only 3750

New Member
Jan 29, 2021 11:43:42 AM

If my wife is on her own insurance and HSA plan and I have my own plan and added my son in February Do i get $7100 and she get her own 3550 or do we only get a grand total of 7100 for the entire family. 

Level 15
Jan 29, 2021 12:03:20 PM

Correct.  Both you and your wife are treated as having family HDHP coverage and your combined HSA contributions are limited to a total of $7,100.