When asked about calculating the Total value of my HSA, Turbotax is asking for two inputs to add:
Your HSA balance on December 31, 2023 $XXX
Any contributions made from January 2023 to April 15, 2024 $???
Total HSA Value $???
Which option would I chose to enter the total value?
Please help me with this question.
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I am filing this late, which means I am completing 2023 taxes right now, and I do not know if just put Zero for "Any contributions made from January 2023 to April 15, 2024 " or fill in what was actually contributed.
This may help.
I did not give any instructions to my HSA provider to designate any 2024 contributions for the 2023 tax year. Every contribution was for the year that they were contributed, which is reflected in my account activity statements for 2023.
So does this mean I put zero for "Any contributions made from January 2023 to April 15, 2024 "?
If you are receiving such a question, may I assume that you received a message from TurboTax that your (or your spouse) coverage had lapsed? That is, Did either of you have HDHP coverage in 2022 and not in 2023?
I ask because taxpayers frequently get into this part of the interview by mistake. We will explore that separately.
If indeed you should be in this part of the interview, then your supposition is correct...if you did not make any contributions in 2024 that were intended for 2023, then answer zero.
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