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February 1, 2025
Question

TurboTax is saying that I overfunded my HSA and that I need to withdraw 2K from it. I only contributed 2K to it last year. How is it overfunded?

  • February 1, 2025
  • 1 reply
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    February 1, 2025

    To qualify for an HSA contribution, you must meet the following requirements:

    • You are covered under a high deductible health plan (HDHP) 
    • You have no other health coverage that is not an exception
    • You are not enrolled in Medicare.
    • You cannot be claimed as a dependent on someone else’s 2024 tax return. 

    See Qualifying for an HSA Contribution.

     

    Go to the HSA, MSA Contributions in the Deductions and Credits section to check your entries for the HDHP and other qualifications.