TurboTax says I overfunded my HSA for 2024, but the HSA is a "Family" HSA with contribution limit $9300 for 2024. How to get TurboTax to enter it properly?

Forum|Forum|1 year ago
January 16, 2025
3 replies
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I got the HSA while employed years ago when we had whole-family insurance, now I am self-employed with single person HDHP. I funded the HSA as a family HSA, with contribution of $9300. TurboTax thinks we have 2 HSA, one for me and one for wife.

BillM223

TurboTax would think that you have two HSAs only because you told TurboTax that you had two HSAs.

Are you filing married joint? Do both you and your spouse have W-2s with a W in box 12? (This would indicate contributions to HSAs. If you did this, TurboTax would ask in each case to whose HSA the code W contribution went, thus making the chance for you to accidently indicate that you each had an HSA).

In the HSA interview, did you go through questions for you and your spouse? These would be separate sections. This should not happen if you didn't tell TurboTax about two HSAs.

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dmertz

HSAs are not "family" or "single." It's the HDHP insurance plan that is family or single. If you had a single-person HDHP plan in 2024 and your spouse had no qualifying HDHP plan, your contribution limit for 2024 is the single limit, $5,150 for someone over age 55.

It is me

Would the Family HDFD on be $9300? $8300 plus the 1K catchup.

RobertB4444

If you have a family High Deductible Health Plan then you can contribute $9300 to your HSA. But if your HDHP only covers you then you can only contribute $5150 for the year. You should check to see what your coverage is and then go back through and check to see what you told the TurboTax system. If you only had individual coverage for 2024 you need to pull the over-contribution plus any earnings out of the HSA before you file the return.

@It is me

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growbuck

I have this same issue, where my son and I were on a Family HSA with contribution limit of $9300. Turbo Tax is showing that I over funded it. Where or how do I correct Turbo Tax to correct this HSA issue?

Thank you in advance.

Solved:

For those of you encountering a similar situation, when you reach the Deductions and Credits, Medial section there is a HSA section. In that section, Turbo Tax will ask if the HSA was for a family or not and a few of clarifying questions. This corrected the apparent over-funding that was showing up from the earlier Wages & Income sections.

MonikaK1

To go back to the section of your return to answer the questions again, use the following steps:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “hsa” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to hsa”
Click on the blue “Jump to hsa” link and edit your information