Not sure I can re-open a resolved question, so here goes again:
RE: But note: if you had an excess contribution in 2017 but cured it by withdrawing the excess in early 2018, then do NOT report an "overfunding" on your 2018 return.
#1 I overfunded/excess HSA contribution in 2019
#2 I filed the 2019 tax return not realizing #1
#3 Using Turbo Tax “TT” I filed an amended return for 2019 and paid $96 in tax - all before the tax deadline of 7/15/20, including receiving the overfunding refund check
#4 I received a 1099-SA for the Excess HSA funding with a Distribution Code of 2
#5 I entered the above 1099-SA in TT
So even though I received the “excess contribution” 1099-SA …
I should answer “No” to the question: Did you overfund your HSA in 2019 ?
I did “cure it” as in #3 above
I am confused, please help. Thanks,
Tom
You'll need to sign in or create an account to connect with an expert.
Yes, you should answer "NO" to the question as to whether you overfunded your return.
What the question really wants to know is "Did you carry over any excess from the previous year?" Since you cured the excess by withdrawing it in a timely fashion, you did not carry over anything. This is why there is the reference to form 5329 - if you had carried over anything, it would have shown up on the previous year's 5329.
The question could be better phrased to avoid confusion.
I am glad my answer from way back when is still good. 😉
Yes, Tom, I had had several "handles" here at TurboTax...but it's still me ;-).
You, too, have a good weekend!
Yes, you should answer "NO" to the question as to whether you overfunded your return.
What the question really wants to know is "Did you carry over any excess from the previous year?" Since you cured the excess by withdrawing it in a timely fashion, you did not carry over anything. This is why there is the reference to form 5329 - if you had carried over anything, it would have shown up on the previous year's 5329.
The question could be better phrased to avoid confusion.
I am glad my answer from way back when is still good. 😉
Hey Bill - Again many thanks - you are my hero.
Looks like you changed your "Handle"
Have a good weekend when it comes.
Regards,
Tom
Yes, Tom, I had had several "handles" here at TurboTax...but it's still me ;-).
You, too, have a good weekend!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
BillyTheDutch
Level 2
charlieb60
Level 2
GNE
Returning Member
GNE
Returning Member
GNE
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.