If anyone has had experience with excess contributions to HSAs, please comment.
My MFJ tax return, both spouses have an HSA .
Individually, they each contributed less than the limit for each product (one single, one family)
but combined had more than $7200 contributed to their HSAs.
I understand the regs to read that when both spouses have HSAs and one of the spouses has a family policy, the maximum contribution from all sources for one family is limited to $7200 (year 2021), the family policy limit.
Do you agree with that reading?
Also, have you had any difficulty in getting your software to recognize the overage, or difficulty in determining how to enter the information so that the software recognizes the overage from two w-2s. Currently, my software (Taxwise) is not flagging the overage per the inputs I have given it.
My MFJ tax return, both spouses have an HSA .
Individually, they each contributed less than the limit for each product (one single, one family)
but combined had more than $7200 contributed to their HSAs.
I understand the regs to read that when both spouses have HSAs and one of the spouses has a family policy, the maximum contribution from all sources for one family is limited to $7200 (year 2021), the family policy limit.
Do you agree with that reading?
Also, have you had any difficulty in getting your software to recognize the overage, or difficulty in determining how to enter the information so that the software recognizes the overage from two w-2s. Currently, my software (Taxwise) is not flagging the overage per the inputs I have given it.
Comment