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…
Hi all, My wife had HSA eligible plan from Sep 2024 - Aug 2025. She did a full contribution using the last month rule for 2024. I'm aware that we needed to pay the 10% penalty for the excess 8 month of contribution for failing the test period. But I could not find anywhere to do that. I can see the form 8889 is supported,…
I contributed $250 over the family limit for 2025. Should I have my HSA custodian process an excess contribution refund or should I have them process an individual contribution tax year correction? I was thinking the individual contribution tax year correction would be simpler. My last contribution in 2025 was for $329 on…
I got married earlier this year and my now husband and I didn't change anything with our insurance (we maintained our own separate insurance policies through work). I have a HDHP with a limited FSA and HSA, while my husband does not have a HDHP but his company allows him a FSA. We were under the impression after reading…
I mistakenly overcontributed to my HSA in 2024. I contacted my HSA provider to withdraw the excess fund in February 2024. I filed for an extension because I was told by my employer that I would get an updated Tax form from the HSA provider. I called my HSA and said this wasn't the case. My employer will not issue a W2…
My employer included all HSA contributions in box 12 on my W2, including some excess which was removed a day before the end of the tax year (Dec 2024). They later sent a corrected W2 which included the withdrawn HSA excess contribution in box 1 Wages. Should I include the HSA excess from box 1 or box 12 on the W2? If I…
I contributed $2,000 to my HSA in 2024, and I just discovered I was covered under Medi-Cal the entire year. As such, I shouldn't have contributed to an HSA, and I am working with my HSA Administrator on a withdrawal of my account balance. I have not filed for 2024 yet. However, my account balance at 12/31/24 (and today)…
Because I over contributed a few years ago and was unable to rectify the situation until last year, I seem to be plagued with the **** of the Excess HSA Contribution Penalty. HOWEVER, I've figured out this is because, I cannot affect this specific Box from this Form. The instructions say: "If the contributions to your…
on Freetaxuse, i am filling tax forms as married jointly. Me and wife both have High deductable Health Plan in 2024. My HSA contribution for 2024 is at 3,600 and my wife is at 4,439, which totals to 8,039 and the 2024 family HSA limit is 8,300. So why does the tax site say my wife over contributed by 289? why is it looking…
Hi We discovered an excess HSA contribution while filing our 2024 taxes and would appreciate guidance on reporting it correctly in FreeTaxUSA. Here’s our situation: We have a family HSA contribution limit of $8,300. I contributed $2,175 to my HSA earlier in the year. Later, I moved to my wife’s health plan and she…
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