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HSA contribution - other tax
one of a client has w2 entry code W with $7500 and over 60 year old, form 5329 line 47 shows 2023 excess contribution 6250 taxed 6% $375. Please help why excess contribution and taxed.
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Is the W2 amount only entered from the W2, and not as HSA, separately? Do you have a plan marked (family, single) for the type of HDHP coverage this person has at work?
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