HSA Balance as of 12/31/21

[pacoford]

I've been redirected in the program and now cannot figure out where to record the 12/31/21 balance of the client's HSA. Please help, thank you.

[TaxGuyBill]

1) You did not say which program you are using, so there is no way anybody can tell you how to input it.

2) If there isn't a penalty, there isn't a need to enter it. 

[pacoford]

Thank you for your reply. Every return I have input has required a balance as of the end of the year and it usually requires an adjustment on the tax liability...am I reading that incorrectly?

[pacoford]

Sorry, forgot to mention I use ProSeries... 

Thank you so much for your time and advice!!!

[TaxGuyBill · Accepted solution]

That entry is on Form 5329, just under line 48.

However, as I said before, that only needs to be there if there is a penalty for excess contributions.   If you have been required to enter that many other returns, I'm a bit concerned that you may be entering something incorrectly.  For example, if the W-2 has code "W" on Box 12 for HSA contributions, you DON'T enter the contribution AGAIN elsewhere.  You just check the boxes showing they had a High Deductible Health Plan, and then the requirement for the year-end value disappears.

[pacoford]

Thank you so much...you have been very helpful!!!