Level 4

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HSA Limit

Forum|Forum|5 years ago
March 24, 2021
14 replies
77 views

I have a client that is clearly over 55 (she's 60) and is entitled to the extra $1,000 HSA contribution bringing the total to $4,550. (See IRS publication page 6) For some reason Pro Series is assessing a penalty on form 5329 and should not. Why is that and how do I correct it..

Thanks In advance for your help.

ProSeries Professional

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Best answer by Just-Lisa-Now-

yes, that's what it looks like.

And youve got a W2 with a Code W on Box 12 on it with an amount that's 4550 or less on it?

Intuit Community Champion

Intuit Community Champion

did you go to the 8889 and check the box for Self in the Line 3 Smart worksheet below Line 2?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

RichardS77Author

Level 4

Yes, and when I check "Self-only" it populates with $3,550.

Intuit Community Champion

Intuit Community Champion

scroll down the screen a bit more, Line 3 should have the 4550 on it...

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Level 15

Try deleting and re-entering her date of birth. And make sure it's before 1965.

RichardS77Author

Level 4

did that here birth date is 10/04/60

Level 15

Then maybe delete the 8889, and the 5329 while you're at it, and try opening them again? Maybe delete the W-2 entry for HSA contributions also.