HSA over contributed for tax year 2022, how to report my income on Turbotax

I changed my employer during year 2022 and made HSA contributions at both places, I realized I had $1250 over contribution.

I contacted my HSA admin two weeks ago to remove excess amount but they haven't started the review process, this is going to pass the deadline of April 18th.

What options do I have ?

1. Tell Turbotax that I already notified my HSA admin which should've corrected it before the deadline ? Which won't be accurate because the deadline is just April 18th.

2. Filing an extension for a new deadline which is Oct 15th? Does this new deadline allow me to correct excess HSA contribution without any IRS penalty ?

342

Expert Alumni

Apr 14, 2023 7:17:57 PM

The due date this year is April 18th, not 17th. See this IRS page. Note that certain disaster areas have later filing dates.

Yes, filing an extension delays the date to correct your excess HSA contribution until October 16, 2023.

File your extension as quickly as possible.

Level 2

Apr 14, 2023 7:21:48 PM

Thanks for the reply, I updated the date to April 18th.

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HSA over contributed for tax year 2022, how to report my income on Turbotax