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My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

My wife and I are both covered by my HSA.  

I contributed $4750.00 in 2017 which is less than $6750.

Why is turbo tax telling me I have an excess contribution when I contributed less than the max allowed limit?

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1 Best answer

Accepted Solutions
PaulaM
Employee Tax Expert

My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

When working in the HSA section, be certain to indicate that you have a HDHP plan. 

If you enter contributions (via payroll deductions or outside of your employer), and don't indicate that you also have the required HDHP, the software calculates the amounts as an excess contribution.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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4 Replies
PaulaM
Employee Tax Expert

My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

Be sure to indicate that you had HDHP also.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

Thanks Paula.  That fixed it.
PaulaM
Employee Tax Expert

My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

Yay! I will add that to an answer below.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
PaulaM
Employee Tax Expert

My wife and I are both covered by my HSA. I know the limits for family HSA is $6750. I contributed less than that amount. Turbo tax says I have an excess contribution?

When working in the HSA section, be certain to indicate that you have a HDHP plan. 

If you enter contributions (via payroll deductions or outside of your employer), and don't indicate that you also have the required HDHP, the software calculates the amounts as an excess contribution.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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