HSA Excess Contribution

naz
naz Member Posts: 2 Newcomer
in Filing my taxes

I'm seeing this question - "Enter the value of all of your health savings accounts as of December 31, 2025, including 2025 contributions made during 2026". I don't have access to the 5498 SA until May so I can't use this. Am I supposed to report the FMV of only the contributions made for 2025? Or the total value on Dec 31 2025, which would include contributions from previous years?

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Answers

  • MatthewD
    MatthewD FreeTaxUSA Admin, FreeTaxUSA Agent Posts: 922 image
    Hello Naz,

    The information you need will not be on the 5498. Do you have access to your HSA online? If so, you can get the balances you need. Or call your HSA administrator and get this information. This information will be used to calculate any possible penalties on excess contributions.
  • naz
    naz Member Posts: 2 Newcomer

    So I need the total value on Dec 31 2025, which would include contributions from previous years?

  • JanaA
    JanaA FreeTaxUSA Agent Posts: 163 image
    Hello naz! Yes, that's correct. You'll need to enter the total value of your HSA account as of December 31, 2025, which includes contributions from all prior years, earnings, and any 2025 contributions made during 2026 (up to the tax deadline). It is not limited to just the contributions made for 2025.
  • pandaexpressfan_1
    pandaexpressfan_1 Member Posts: 56 Level 5

    Yes that is correct. I just recently did this myself on my taxes. I was able to login to my HSA and find a yearly statement that contained the balance as of dec 31st 2025.

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