Other Income Summary Not Matching

Sarahdstevens
Sarahdstevens Member Posts: 4 Newcomer
in Income

I entered $1,915 of other income on the miscellaneous page (due to an HSA excess) and nowhere else in the "other income" category. However, on my Federal Tax Summary page it shows that I have $3,830 of other income. What am I missing? Why don't those numbers match?

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Best Answer

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 253 image
    Answer ✓
    Hello Sarahdstevens,

    So, the only thing I can think of is that you reporting your HSA excess contributions twice. When you enter your HSA information in the first place, it figures out if you had an excess contribution or not, and if you do, it asks if you will withdraw it before the filing deadline.

    It then also tells you to enter the excess EARNINGS (not contributions) as miscellaneous income, which it sounds like you did enter something there based on what you said earlier. Is that your earnings or your excess contributions amount? If it is the excess contributions, please go back to the Miscellaneous income page and delete that entry (or replace it with your earnings if you had any).

    If that is not it, then I would recommend contacting customer support as they can view your account and see where the duplication may be.

Answers

  • JMSSGV
    JMSSGV Member, Star Posts: 296 image

    What other types of income did you enter? Do you have a Schedule C, a 1099-MISC, rental income, etc.?

  • Sarahdstevens
    Sarahdstevens Member Posts: 4 Newcomer

    No I don't, I have 1099-div, and W-2s but those are all showing correctly.

  • JMSSGV
    JMSSGV Member, Star Posts: 296 image

    So no other sources of income (including any that were not reported on a form)? No jury duty, gambling winnings, miscellaneous income, prize winnings, etc.?

    Was your 1099-DIV a standalone form, or was it part of a consolidated statement with other income items? Capital gains? Retirement income? Interest? Original Issue Discount?

    Did you make ANY other income entries during the return preparation process? Go back and check everything you input.

    The difference between the two numbers you gave is $6,465. Does that sound familiar?

    Could anything have carried forward from the prior year (assuming you used FTUSA for 2024)? State tax refund?

  • Sarahdstevens
    Sarahdstevens Member Posts: 4 Newcomer

    Thank you! I think you are right and I will fix that!

  • Sarahdstevens
    Sarahdstevens Member Posts: 4 Newcomer
    https://community.freetaxusa.com/discussion/comment/7571#Comment_7571

    I think that is it! Thank you so much, I'll go in and fix it

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