Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-06-2014, 01:41 PM
Junior Member
 
Join Date: Feb 2014
Posts: 1
How to correct an OLD Form 8889

I'm in a mess, way back in 2005, somehow I accidentally submitted an 8889 for an HSA saying we contributed $900. Don't ask how this happened, but it did and I just am now realizing on my taxes that we have been paying a 6% penalty because it looks like an excess contribution that just keeps rolling year after year onto our tax form 5329! I don't care about recouping our $54 tax penalty we have necessarily paid, but I don't want to continue rolling this over. I can't ammend because it's well past 2005, I can't consider it part of a contribution for this years limit because I don't have an HSA account open. Do I just delete the $900 on our 5329 form because it shouldn't be there anyways? Do I just fill out a new 8889 as if we did have an HSA just to get rid of the excess? Not sure the best way to handle it? Please help, I've already stumped another tax professional.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Correct 1096 curioste Filing Requirements 1 01-21-2014 06:52 PM
Shouldn't have filed Schedule C - how to correct? rtaa Income 1 05-02-2013 03:27 AM
Form 8889 Help beckyw1234 Medical 0 02-25-2011 12:11 AM
How do you correct a previously filed Form 941 if you have found an error? TaxGuru Miscellaneous 0 09-24-2009 08:19 PM
How do I correct a 1096 Form Jill C-Corporation 3 02-14-2009 01:54 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning