TAX PLANNING

Question 35 of 75.

Which of the following statements is FALSE regarding excess HSA contributions? Excess HSA contributions:

A. May be removed, without penalty, by the due date of the tax return, including extensions.

B. Are subject to a 20% penalty.

C. Occur when a contribution is made by a person who is not eligible to contribute.

D. Occur when contributions are made in excess of the contribution limits for that taxpayer.