Since onset of HSA, I have been religiously contributing to the Health Savings Account (HSA) every year.
Even though my employer doesn't contribute anything to my HSA account, it is reported on my W2 as "W" on Box 12.
As per IRS instructions, the code W indicates contributions can include from both employer and employee.
In my case it is just me (employee) contributing to HSA. However, according to my accountant, I have been told that I won't be able to get New York state tax deductible for my HSA contribution since it is coded as W on Box 12 of W2. Accountant also as filed Form 8889 showing HSA contribution as employer contribution and not as employee contribution because it is coded W on Box 12. Is that correct filing?
Also wondering, is it possible to avail New York tax-deductible for my HSA contributions?
Any advice on this would be greatly appreciated. Thanks
FYI: IRS instructions on W2 box 12 for code "W":
- W – Employer contributions (including amounts the employee elected to contribute using a Section 125 cafeteria plan) to your health savings account (HSA). (Not included in Box 1, 3, or 5.) Report on Form 8889, Health Savings Accounts (HSAs).
