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WingMan7
New Member

HSA catch up contribution

I am 60 years old and contributed $4,500 to my HSA in 2019 ($3,500 IRS limit plus the $1,000 catch allowed if you are over 55).  Turbo Tax Deluxe tells me I over contributed $760 and will be taxed 6% of the overage. I have the most recent updates and my birth date is entered correctly.  What am I doing wrong?

 

"You may want to withdraw money from your HSAs

It looks like xx has an excess contribution of $760.  This amount is being taxed at 6%"

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1 Reply
GiseleD
Expert Alumni

HSA catch up contribution

The limit for you is indeed $4500 based on your age. If there were no typos in your entries, you may want to check your W-2. It is possible that your employer also made contributions. The eligible contribution amount to an HSA must be reduced by any employer contributions to an employee’s HSA that are excludable from income.

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