It is possible that you still need to tell TurboTax that you were covered by a high-deductible health plan all year. 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, until you are asked if you were covered by a High Deductible Health Plan (HDHP) in 2024? Answer this question and indicate the time period of coverage.

Question

Why is my hsa contribution being flagged as excess when it is only $892?

Forum|Forum|1 year ago
March 1, 2025
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M

MindyB

It is possible that you still need to tell TurboTax that you were covered by a high-deductible health plan all year.

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, until you are asked if you were covered by a High Deductible Health Plan (HDHP) in 2024? Answer this question and indicate the time period of coverage.