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February 19, 2024
Solved

TT is saying I have an excess contribution to my HSA of 1500 but it is not making sense. I don´t contribute anything above what my employer does. Can anyone help?

  • February 19, 2024
  • 1 reply
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I don´t want to withdraw it unless I am certain, but I also don´t want to be taxed the 6 %.   Could it be because I did not SPEND enough of what was in the account??
Best answer by dmertz

Make sure that you have not reported any contributions made through your employer as being personal contributions.  All contributions made via your employer, reported with code W in box 12 of your W-2, are deemed to be employer contributions because your employer excludes these from the amount in box 1 of your W-2.  Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

1 reply

dmertzAnswer
Employee
February 19, 2024

Make sure that you have not reported any contributions made through your employer as being personal contributions.  All contributions made via your employer, reported with code W in box 12 of your W-2, are deemed to be employer contributions because your employer excludes these from the amount in box 1 of your W-2.  Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.