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You will not receive an amended 1099-SA.
Your withdrawal of excess contribution will be reported on your 2025 1099-SA with code 2 in box 3.
As you have withdrawn the excess before April 15, 2025, there is no penalty of 6%.
In TurboTax, when TurboTax tells you that there is an excess contribution, on the next screen, say that the excess has been withdrawn. There is no excise tax and form 5329 will not be populated.
[Edited 03/31/2025 | 1:17 PM PST]
@MinhT1 don't you have to report that you withdrew the excess on the 2024 tax return, otherwise, you'll get hit with the 6% penalty????
what is not clear is how @krista316 withdrew the excess. If as a request to the Administrator, then report it in 2024. If withdrawing it as if there were medical expenses, then it's part of 2025 tax return.
I withdrew the excess via a request to the Administrator. The problem is that my tax form does not show the withdrawal, so how would i report it?
This is what Chat GPT told me to do, which is consistent with other things Ive read, but is opposite of what you're suggesting. Why would I not report it this year?
@krista316 even though the tax form does not show the withdrawal, report it anyway on your 2024 tax return. Not having it on a form doesn't preclude you from reporting it.
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