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January 23, 2025
Solved

Custodian withdrew excess HSA contributions and earnings accrued. W2 states the excess amount. How can I adjust my filing to reflect no excess amount for 2024?

  • January 23, 2025
  • 1 reply
  • 0 views
From my understanding Form 8889 would need to reflect the update, however I can’t seem to find a way to adjust this on Turbo Tax. I don’t believe I’ll reflect this on the W2 itself as it may flag.
    Best answer by dmertz

    Enter all forms exactly as received, no modifications.

     

    When completing the HSA contribution section and TurboTax indicates that your HSA contributions included an excess contribution, indicate that you will (or did) have the excess returned and indicate the amount of excess returned (without the adjustment for earnings).

     

    Note that only actual excess contributions are permitted to be returned.  If the calculations done by TurboTax don't indicate that there was an excess contribution, TurboTax will not provide an opportunity to indicate an excess as having been returned.

    1 reply

    dmertzAnswer
    Employee
    January 23, 2025

    Enter all forms exactly as received, no modifications.

     

    When completing the HSA contribution section and TurboTax indicates that your HSA contributions included an excess contribution, indicate that you will (or did) have the excess returned and indicate the amount of excess returned (without the adjustment for earnings).

     

    Note that only actual excess contributions are permitted to be returned.  If the calculations done by TurboTax don't indicate that there was an excess contribution, TurboTax will not provide an opportunity to indicate an excess as having been returned.