Solved: How do I report HSA interest, dividends, and capit...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
yanivi
Level 1

How do I report HSA interest, dividends, and capital gains on the New Jersey Return?

 
1 Best answer

Accepted Solutions
DianeW777
Expert Alumni

How do I report HSA interest, dividends, and capital gains on the New Jersey Return?

Because New Jersey (NJ) does not allow the HSA contribution deduction you must add the earnings to your NJ return.

  • Employer contributions to HSAs are included in NJ income and employee contributions are not deductible on the NJ individual tax return. But withdrawals from HSAs for medical purposes are deductible on the NJ tax return (subject to a 2% exclusion) as medical expenses.

Add the interest, dividends and capital gains on the NJ return by following the instructions below.

  1. Sign into your TurboTax account/return > Select States tab > Continue or Edit your NJ return
  2. Continue until you reach 'You've Finished Your New Jersey Return' > Select Update beside Adjustments
  3. Continue to the page 'Other Non-Wage Income'
  4. Enter your description and amounts
  5. Continue to complete your NJ return
  6. See the image below.

View solution in original post

2 Replies
DianeW777
Expert Alumni

How do I report HSA interest, dividends, and capital gains on the New Jersey Return?

Because New Jersey (NJ) does not allow the HSA contribution deduction you must add the earnings to your NJ return.

  • Employer contributions to HSAs are included in NJ income and employee contributions are not deductible on the NJ individual tax return. But withdrawals from HSAs for medical purposes are deductible on the NJ tax return (subject to a 2% exclusion) as medical expenses.

Add the interest, dividends and capital gains on the NJ return by following the instructions below.

  1. Sign into your TurboTax account/return > Select States tab > Continue or Edit your NJ return
  2. Continue until you reach 'You've Finished Your New Jersey Return' > Select Update beside Adjustments
  3. Continue to the page 'Other Non-Wage Income'
  4. Enter your description and amounts
  5. Continue to complete your NJ return
  6. See the image below.

View solution in original post

yanivi
Level 1

How do I report HSA interest, dividends, and capital gains on the New Jersey Return?

I ended up putting HSA dividends into the "Dividend Income" page.  This way it was reported on line 17 "Dividends".

Dynamic AdsDynamic Ads
v
Privacy Settings