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February 24, 2025
Question

I have not overfunded my hsa but it says i did

  • February 24, 2025
  • 1 reply
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Why is it saying im overfunded for hsa when i do not contribute only employer499.92

    1 reply

    February 24, 2025

    If you had contributions of $500, you are below the limit for even a single plan, so you may have not indicated you had a High Deductible Health Plan (HDHP).  

     

    Check these entries:

     

    • Click on Federal Taxes,  Deduction & Credits
    • Choose "add/edit" HSA, MSA Contributions
    • You will see a page titled "Your HSA Summary" which will show any deductions already computed from your W-2  
    • Choose Edit, Check the box for HSA, Continue
    • You'll now see a screen that says "Here's what we have so far" with the information from the 1099-SA, choose "Edit"
    • After the entry screen for the amount distributed, continue and when it asks "Did you spend your HSA money on medical expenses only?" answer "Yes", if accurate. 
    • Choose done and continue until you get to a screen that says "Let's enter your HSA contributions"
    • In the box "Any contributions you personally made (not through your employer)" DON'T enter the amounts you contributed through paycheck withholding. It has already been considered through your W-2 entry.
    • Continue on, and if you were covered by Medicare, you will need to indicate what months this was the case, as your contributions will be limited.
    • Next, you will be asked if you were covered by a High Deductible Health Plan (HDHP) in 2024? You need to have been covered the whole year or indicate what months you were covered