Sign In
AS3
Level 2
Member profile
Activity Feed for AS3
- Posted Re: Overcontribution to HSA in 2019 showing up on total income even though I have withdrawn/rolle... on Deductions & credits. December 29, 2020 3:18 PM
- Posted Re: Overcontribution to HSA in 2019 showing up on total income even though I have withdrawn/rolle... on Deductions & credits. December 29, 2020 1:59 PM
- Posted Re: How do you withdraw the excess contributions from your HSA? on Deductions & credits. December 29, 2020 1:56 PM
- Posted Re: Removal of HSA Excess Contributions on Get your taxes done using TurboTax. July 14, 2020 10:16 PM
- Cheered Re: Removal of HSA Excess Contributions for BillM223. July 14, 2020 10:13 PM
- Posted Re: Contact your H.S.A. administrator. The IRS is lenient on... on Deductions & credits. July 14, 2020 9:57 PM
- Posted Re: How do you withdraw the excess contributions from your HSA? on Deductions & credits. July 14, 2020 9:56 PM
- Posted Overcontribution to HSA in 2019 showing up on total income even though I have withdrawn/rolled over to 2020 on Deductions & credits. July 14, 2020 9:02 PM
- Got Cheered for Re: Deductible Home Mortgage Interest Worksheet. July 8, 2020 8:12 PM
- Cheered Re: Where do I add a 1095-C form? for DMarkM1. July 5, 2020 10:48 PM
- Posted Re: Deductible Home Mortgage Interest Worksheet on Deductions & credits. July 5, 2020 5:41 PM
- Posted How do I convert from Turbo Tax software (windows desktop version) to online if I need live support? Thanks! on Get your taxes done using TurboTax. June 1, 2019 10:05 AM
December 29, 2020
3:18 PM
Thank you for getting back. Appreciate the prompt response. It would have made sense if I would have actually withdrawn it. I was given an option - reading through posts on TT community and chose to carry it over to this tax year 2020. So if I have already paid tax on it, was I better of just actually withdrawing so I could have paid pre-tax contributions again this year in 2020? Due to the excess rolling over, I could not make an contributions this year. I'd like to understand this better for the future. Hard to do anything this late in the year now I guess :(
... View more
December 29, 2020
1:59 PM
@BillM223 I still haven't gotten this question resolved, I am afraid :( Does adding this excess contribution to 'Other income' mean I paid tax on it (this excess contribution) in 2019 ?
... View more
December 29, 2020
1:56 PM
@BillM223 I still haven't gotten this question resolved, I am afraid :( When you said " If you withdraw the entire before the due date of the return, then the matter if over and done with - TurboTax has added it to Other Income, and that's all that needs to happen (except for you contacting your HSA custodian and actually requesting a "withdrawal of excess contributions"). " Does adding this excess contribution to 'Other income' mean I paid tax on it (this excess contribution) in 2019 ?
... View more
July 14, 2020
10:16 PM
Chiming in here. I answered NO to the question of not withdrawing as advised above, because I am carrying over my excess contribution to the next year- 2020. However, my concern is that the excess amount i am carrying over is showing as my gross income for 2019 (because TT thinks i actually withdrew the money vs carried it over??) How do I prevent this? My total income for the year 2019 should NOT include this amount, correct? It seems like I am being charged Federal taxes on it as if it was my income?!
... View more
July 14, 2020
9:57 PM
Need some clarification here. If one is rolling over to the next year say 2020 from my 2019 contributions, where should one document this in TT? If we need to check the 'withdrawn before due date' box, why is it being treated as income in the year 2019 and being taxed right now?
... View more
July 14, 2020
9:56 PM
Need some clarification here. If one is rolling over to the next year say 2020 from my 2019 contributions, where should one document this in TT? If we need to check the 'withdrawn before due date' box, why is it being treated as income in the year 2019 and being taxed right now?
... View more
July 14, 2020
9:02 PM
Hi, I had changed employers due to which I over contributed to my HSA by about $1300. Now this amount shows up as 'Other income' in my Total Income. My entire tax breakdown for my income for 2019 is showing this amount added. Meaning my gross income for the 2019 includes this excess amount in the calculation. Why is the TT software doing that after I have confirmed that I have removed/withdrawn the funds (in reality rolled over this excess amount to the year 2020 with my HSA provider)? Is this going to affect my Federal/State taxes? Thanks, Ani
... View more
July 5, 2020
5:41 PM
1 Cheer
Has this been resolved? I am running into this issue as well. Clearly a bug and its been months since the time it was first reported!!
... View more
