Excess HSA Contributions - did I file it right?

vctk5
vctk5 Member Posts: 2 Newcomer
edited March 31 in Filing my taxes

Hi there! Sorry if this has already been answered before.

My husband and I are filing as MFJ, and as we were filing our 2023 tax return, we were notified that I had over contributed to the HSA limit by $1540 — I mistakenly thought we had separate limits since I was on a family plan and my husband on a self-only plan. I then withdrew the excess amount from my HSA account in Jan 2024 and included $1540 into our 2023 tax return (Schedule 1 Form 1040 & Form 8889).

Now that we're filing for 2024, I see that I have two 1099-SA forms, one with Distribution code 1 and the other with Distribution code 2, which has $1540.14 in Box 1 and 0.14 cents in Box 2.

I don't quite understand how we should proceed with our 2024 tax return - do we claim this withdrawal again for 2024? Or did I file our 2023 taxes incorrectly and would need to amend it so that the excess $1540 is not included?

Thank you!

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Best Answer

  • WrenD
    WrenD FreeTaxUSA Agent Posts: 28
    Answer ✓

    Hello vctk5,

    As long as you included the excess contribution on your 2023 return (on Form 8889 and Schedule 1), as it sounds you did, you don’t need to worry about adding it again to your 2024 return. Your 2023 return is correct; you don’t need to amend it. The extra 1099-SA you got for 2024 is just because the excess wasn’t withdrawn until January 2024, but you handled it correctly. No need to do anything for 2024!

Answers

  • vctk5
    vctk5 Member Posts: 2 Newcomer

    What a relief - thank you so much, @WrenD!

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