Spouse started Medicare "A" at 65 in January 2021. My employer and I contributed a total of $8100.00 for 2020. My spouse is still covered by my HDHP as well as Medicare "A". Why do I keep getting "Exceeds Allowable Limit" contribution message?
Thank you
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"Why do I keep getting "Exceeds Allowable Limit" contribution message?" - you should not, so there is something else going on.
First, make sure that you indicated that your W-2 belonged to you and not your spouse. TurboTax does not go off the employee name, but off an easy-to-miss flag at the top of the data input screen.
Second, does the HSA belong to you or your spouse?
Third, in the HSA interview, you didn't indicate that your spouse was on Medicare, did you? If the HSA belonged to you, you should not have been asked about your spouse.
Fourth, did you see the question, "What type of High Deductible Health Plan did [spouse's name] have on December 1, 2019?" Did you answer "NONE"?
Please come back with your answers, and at the bottom of your reply, place @ BILLM223 (with no space in between) so I will be notified.
Thank you for such a detailed response. I trouble shot it to an early question I incorrectly answered that was not applicable. I reinitiated the HSA questioning with correct responses which resulted in the correct conclusions. Thank your for your time and trouble. Best, 2020Mimi @BillM223
Oops. 2011Mimi 🙂
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