I had a small excess contribution to my Fidelity HSA in 2024. Last week I contacted Fidelity and arranged for a return of excess contribution, with Fidelity calculating the amount of interest to withdraw. It's a holiday weekend so it hasn't completed, but it appears to be going through. So far so good.
My understanding is that I need to file a Form 5329 with the IRS, and I believe I've answered all of FreeTaxUSA's questions correctly. When I preview the return everything looks right, but I'm not seeing a Form 5329. Perhaps this will be on next year's return?
Some background on how it happened: I went on Medicare in August of 2024, so my contribution limit for the year was $3004. I contributed $3000 in January. In April or May I paid a bill to my insurer directly from the HSA. The insurer mailed a check to the anesthetist's office, where they apparently lost it. In June the insurance company refunded the amount directly to my HSA, where it counted as a contribution![:oops:]( "D'oh")
My understanding is that I need to file a Form 5329 with the IRS, and I believe I've answered all of FreeTaxUSA's questions correctly. When I preview the return everything looks right, but I'm not seeing a Form 5329. Perhaps this will be on next year's return?
Some background on how it happened: I went on Medicare in August of 2024, so my contribution limit for the year was $3004. I contributed $3000 in January. In April or May I paid a bill to my insurer directly from the HSA. The insurer mailed a check to the anesthetist's office, where they apparently lost it. In June the insurance company refunded the amount directly to my HSA, where it counted as a contribution
Statistics: Posted by telemark — Mon Jan 20, 2025 2:03 pm — Replies 3 — Views 156