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March 5, 2025
Question

Warning: "You may want to withdraw money from your HSAs"TurboTax treats my HSA contributions as excessive. How do I get around this?

  • March 5, 2025
  • 1 reply
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I am retired, so no W-2 involved (Box 12). TurboTax insists all my contributions are excessive and subject to 6%

    1 reply

    March 5, 2025

    Were you enrolled in Medicare?

     

    To be an eligible individual and qualify for an HSA contribution, you must meet the following requirements.

    You are covered under a high deductible health plan (HDHP), described later, on the first day of the month.

    • You have no other health coverage except what is permitted under Other health coverage, later.
    • You aren’t enrolled in Medicare.
    • You can’t be claimed as a dependent on someone else’s 2024 tax return.

    irs.gov

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