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Level 2
posted Feb 17, 2024 10:22:36 AM

2022 HSA Excess contribution - trying to resolve on 2023 taxes

In 2022 I had an excess contribution of $1550. I did not understand and just paid the extra tax thinking it was no big deal. Now, doing 2023 taxes, the $1550 from 2022 is carried over from form 5329. I am planning to withdraw that amount before April 15, but turbo tax is now saying I need to withdraw $3100.

 

I maxed out my my HSA in 2023. $7750 plus $1000 catch for being over 55.

 

Any help explaining why the $1550 doubled to $3100 would be great.

 

Thanks.

 

0 2 199
2 Replies
Level 15
Feb 17, 2024 12:19:11 PM

This is a result of a bug introduced with the February 8, 2024 update to 2023 TurboTax.  Intuit is aware of the problem.

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/insurance-medical-benefits/turbotax-desk...

Level 2
Feb 17, 2024 12:24:30 PM

Thanks for the quick reply. Makes sense, it doubled after applying an update I was waiting on for another section.