HSA deduction - 2022

Forum|Forum|3 years ago
January 26, 2023
2 replies
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when entering in HSA contributions ... we are both over 55 which qualifies us for additional $1000/person catch up contribution. my wife started Medicare in Sept. therefore can only contribute HSA from Jan - Aug. Publication 969 states she can contribute (including the $1000 for 8 months, see capture below) TurboTax is noting that we have over contributed ... it is calculating on the lower individual amount vs. added $1000/year. how do I get this resolved in software as it has material impact on taxes owed

TurboTax Home & Biz Windows

dmertz

Level 15

If your wife was only eligible to contribute to an HSA for the first 8 months of the year, her maximum catch-up contribution is 8/12 of $1000 = $666.67. Both the regular contribution limit and the catch-up are prorated by a factor of 8/12.

Chez58Author

Level 2

correct ... but the software is not allowing for the additional $1000/8 months it is assuming standard contribution

ZhuoliA

Level 5

The maximum contribution limit is $3,100 ($4,650*8/12) after considering the additional $1000/year contribution if your wife is 55 or older and enrolled in Medicare in September. There could be other reasons you see the excess HSA contribution message in TurboTax. Please see the help article below and double-check your answers to the interview questions in the HSA section.