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…
Hello! I am trying to figure out a few things with an HSA. Opened an HSA Funded the HSA to 4150 (max individual) Found out that I was not covered, due to clerical error from insurance company. Closed the account, and given a 4760 check. I understand the excess, but how do I file the earnings on this amount (610)? Thanks!
While doing my taxes in FTU, it was brought to my attention that I made excess contributions to my HSA. In total, $642 was in excess. When running through to prompts it asks "Did April take an HSA distribution in 2024?" Technically, no but it is prior to the filing date that the excess was caught and rectified. The check…
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…
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)…
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 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…
Basically - I overcontributed to my HSA in 2023 and no longer have a HDHP. I paid the 6% excise tax for 2023. I am now trying to remove the overcontribution for future tax filings. If I withdraw the overcontribution + gains today (February 2025), can it be applied to 2024 taxes even though a 1099-SA will not be generated…
My W-2 HSA total is higher than the actual total: $2690 instead of $2517, according to my HSA statements. My previous employer is unresponsive to requests to correct my W-2. I also have excess contributions due to losing coverage mid-year. The tool suggests I withdraw $615, but the actual excess is $442. How do I file this…
It looks like you're new here. Sign in or register to get started.