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You need to enter your contributions before your deduction limit can be calculated. You’ll get a T4FHSA - First Home Savings Account Statement early next year which will have your total contributions, and once you enter the slip, TurboTax will adjust your deduction limit.
sounds good, thanks for the help
Where do you enter the FHSA T4FHSA amount? I have received my slip and there’s nowhere to enter it on Turbotax Online 2023.
thanks!
Open your return- on the left-hand side and go to Income, T-Slips to T-Slips Summary, and scroll down until you see "NEW T4FHSA". Click on the box in front of where it says "NEW T4FHSA", then continue. Once you get to your T4s you will continue until you get to where it says Enter New T4FHSA and click on it. You will see where you will be able to enter the amount as shown on your T4FHSA slip.
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I am currently having the same problem.
My spouse and I both opened and contributed 8k into our FHSA accounts. We both withdrew our 8k balances and bought a home.
On the online version of Turbo it I am getting this when I try to claim the 8k deductions...
"Maximum FHSA deduction available for 2023: $0.00"
I don't have the FHSA Tax receipt yet, but I have entered the information as a reference point.
Cancel that. Mistake on my end, of course! Just needed to send a forum post before I noticed it! haha
Happy to know the issue was resolved. Thank you for letting us know.
Thank you for choosing TurboTax.
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