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Get your taxes done using TurboTax
"the amount they subtracted from our Gross Pay in the W2 worksheet on the right side of the W2?"
Of course, I do not know what your W-2 worksheet looks like, but let's note that the code W amount in box 12 on your W-2 consists of two things:
- The amount that your employer contributed to your HSA, and
- The amount that you contributed through payroll deduction.
If I am reading you correctly, your employer kicked in $1,000 and you kicked in some amount (let's call it $X).
So the code W amount in box 12 is supposed to be the sum of the $1,000 plus the $X. It is done this way because both types of contributions are treated the same way: they (the code W amount) is subtracted from Wages in boxes 1, 3, and 5 on your W-2 before it is printed.
Make sense?
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March 18, 2021
2:17 PM