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Anguyen24
New Member

It says i overcontributed my HSA

Hello, In 2023 I contributed $3000.01 to my HSA. But it is saying I contributed $3000 too much. I called my HSA account who said they have been getting numerous calls for people doing their taxes on TurboTax with this same error. Any suggestions would be appreciated. I would prefer not to withdraw the $3k to avoid the 6% tax. Thank you

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1 Reply
MayaD
Expert Alumni

It says i overcontributed my HSA

To open an HSA, you must be enrolled in an HDHP and you can’t be covered by Medicare or other health insurance policy, with a few exceptions. You also can’t be eligible to be claimed as a dependent on another return, regardless of whether somebody else actually claims you.

Your HSA contribution is reported in box 12 of your W-2 with the code W (Company Contributions to Health Savings Account). TurboTax automatically records this amount in the 1099-SA, HSA, MSA section.

Code W reports the combined HSA contributions from you and your employer. Don't enter that amount again on your tax return.

For more information check: Why am I showing an excess HSA contribution?

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