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mark-c-vandermolen
March 9, 2025
Question

Why does my taxes go up if I make an additional personal contribution to the HSA?

  • March 9, 2025
  • 1 reply
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    1 reply

    J
    JamesG1
    March 9, 2025

    Are you reporting excess contributions to your health savings account (HSA)?

     

    Excess contributions would be reported on Part VII of IRS form 5329 Additional Taxes on Qualified Plans and on line 23 of the IRS Federal 1040 tax return.

     

    When entering information about your health savings account (HSA), did you see the statement You may want to withdraw money from your HSA?

     

    You have exceeded your annual HSA contribution limit or the software thinks that you have exceeded your annual HSA contribution limit.

     

    Review your HSA entries for an over contribution.  See also this TurboTax help.

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