Discussion:HSA excess contributions, right?
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Revision as of 19:56, 13 June 2009
Discussion Forum Index --> Advanced Tax Questions --> HSA excess contributions, right?
Discussion Forum Index --> Tax Questions --> HSA excess contributions, right?
| 13 June 2009 | |
| A new client this year provided 2007 tax return that shows contributions to his individual HSA for 2007 of $8,000 (he's under 55 for both 07 and 08). The deduction allowed on 1040 was correct on page 1 at $2,850. I didn't think much about it until I got the 5498 for 2008 showing contributions of over $11,000. I input this in tax software and got no error or diagnostic message and went back to read/research this. Wouldn't both years be considered to have excess contributions that would need to be withdrawn and tax paid on the earnings? I have to be missing something here. This individual was diagnosed with terminal cancer and is considered totally disabled. Would that matter? I've read the Pub 969, instructions to 8889 and all discussions here and on and would appreciate someone's feedback on what I am not seeing right. Thanks. | |
