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June 3, 2019
Question

Turbo tax says we have $917 in excess in our hsa and that we can avoid fees if we withdraw it. There is only $500 in the account. What do we do?

  • June 3, 2019
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1 reply

Employee
June 3, 2019

You're seeing this message because the information you've entered indicates that you put too much money into your Health Savings Account (HSA). If you exceed the contribution limit, you must withdraw the excess before you file your tax return or you'll be penalized

It's a good idea to double-check the HSA information you entered in TurboTax to make sure you really had an excess contribution. A common error is to enter the HSA contribution information twice, once on the W-2 screen (with code W in box 12) and again on the HSA contributions screen. Use the instructions in the FAQ below to review your HSA answers. 


Why am I showing an excess HSA contribution?   https://ttlc.intuit.com/replies/4788059


If after checking you really do have an excess HSA contribution, TurboTaxPeterM provides guidance below.  https://ttlc.intuit.com/replies/6039195