Family HSA contributions

Forum|Forum|8 years ago
April 14, 2018
2 replies
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I want to contribute the $6750 to my HSA as it covers myself and my children. Currently my 2017 form states that I put 2400 into it in 2017. When I try to put 6750-2400 into it, it says that I am funding it in excess (but it will let me max it out as an individual: 3400-2400). How do I make turbo tax realize that this is a family HSA and not an individual one so that I can contribute the maximum amount for 2017?

LindaA

Level 10

Revisit the HSA interview and indicate that you were covered by a family plan. This topic comes up a few screens after you enter your HSA contributions. When TurboTax prompts, "Were you covered by a High Deductible Health Plan (HDHP) in 2017?", be sure to select "Yes" and then check "I was covered by a Family plan every month of the year."

fuzzyatom

Level 2

'"be sure to select "Yes" and then check "I was covered by a Family plan every month of the year."'

Even after doing this it still thinks that i have exceeded contribution limit. There isn't anywhere I have found to indicate that it is a family HSA. Please help!

DMarkM1

Level 15

1. "Edit" HSA section

2. Click through the interview questions being sure that the HSA box for you and/or spouse are checked

3. Eventually you will get to page titled "Was XXXX covered by ...HDHP in 2019?"

4. Be sure to answer "Yes"

5. That will prompt a question about whether plan was "family, self-only, or different plan types"

6. Select "Family"

Sometimes the issue is double entry of the contribution amount. To check:

1. "Edit" HSA section

2. Click through the interview questions being sure that the HSA box for you is checked

3. When you get to page titled "Let's enter XXX HSA contributions", be sure not to double enter the contributions.

If the contributions are on your W2 and entered already, you should enter zero (0) in the box for "any contributions you made".

You will get the same questions for your spouse, if applicable.

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bellis777

Level 2

So, I'm running into a similar situation. I added $4600.05 from my W2 (box 12c, code W), which is a combination of contributions from both me ($4000) and my company ($600). [Yes, I have a family High Deductible plan.] You are recommending I type zero when I get to the HSA deduction section, but then why would it/should it display as zero when I would expect it to display $4000 here? Am I already receiving a deduction based on what I entered from my W2? Also, the Code W text seems a bit misleading because it says "Employer contributions."

I'm just double-checking. Please advise. Thanks!

DMarkM1

Level 15

That box 12 code W excludes the income from your taxable W2 income. It will only show up in the "Employer Contribution" box because it is from your W2. As long as that box includes all that you have contributed (or was contributed for you), then you do not need to add amount in the other contribution box in the HSA interview.

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