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"which brings me to another sales bracket" - what are your referring to, your tax bracket?
And are you talking about when you initially enter the W-2? Have you completed the HSA interview and entered your HDHP data?
Let's don't try to fix anything until I can understand what the issue is. So please give me the context of your question.
I had a typo there, I meant tax bracket.
TurboTax is rounding up my 12a, W field, making it detect as if I had to pay 6% taxes on excess contributions (equal or above $2,000). I had to through the wizard and say that I accept the extra 6% taxes and TurboTax "self-fixed" it. However, my HSA form is coming out misleading, even though it will not affect my filing with wrong info.
OK, please tell me the following:
1. the amount in box 12 on your W-2 with the code of W?
1.5 The amount that TurboTax is rounding it up to.
2. The amount of any contributions you made directly to the HSA (not through your employer), if any.
3. The type of HDHP coverage you had (Self-only or Family).
4. The number of months you had this coverage.
5. Did you say YES to the question, "Did you overfund your HSA in 2019?"
6. The amount of excess HSA contributions that TurboTax told you about.
1. 1,999.96
1.5. 2,000
2. 0
3. Family
4. 12
5. NO
6. Didn't state the amount, but told I had an excess and presented me 3 options (Line 12 in the form)
The annual HSA contribution limit for Family HDHP coverage for 12 months is $7,100. So either $1,999.96 or $2,000 would be well below the annual HSA contribution limit.
"Didn't state the amount, but told I had an excess and presented me 3 options"
I don't understand this; are you talking about the three options of "we'll withdraw the full amount, we'll withdraw some of the amount, and we're not to make a withdrawal'? The excess amount listed in the first line and repeated in the first option.
"Line 12 in the form"
Are you saying that you have the CD/download software and can go into Forms mode? If so, what are the values are lines 5, 6, and 8?
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