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Deductions & credits
TurboTax treats amounts shown with code W in box 12 of your W-2 as excess contributions subject to penalty until you complete the HSA section of TurboTax. Once that's done to establish your eligibility for the contribution, TurboTax removes the penalty which increases your refund by the amount of penalty removed.
‎February 24, 2025
4:11 AM
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