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Level 2
posted Jan 31, 2024 1:10:02 AM

Box 12 with code W is added to my total income after I uploaded W2. Code W is HSA contribution amount. Why is this added to my total income?

I clicked "Explain my taxes and what I see in my total income is W-2 wages:$xx (from box1) and 
1099-SA HSA and MSA distributions:$xx (from box 12). . Also this box 12 HSA amount is less than 2023 maximum but Turbotax says I over contributed and need to withdraw all of them. Can anyone please explain? Thanks

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1 Best answer
Expert Alumni
Jan 31, 2024 8:33:47 AM

Contributions to your HSA are considered by the IRS to be taxable until you demonstrate that you are covered by the appropriate High Deductible Health Plan (HDHP), which you do in the HSA interview.

 

From what you said, it seems like you did not go through the HSA interview to report on your HDHP coverage. Did you? Go to Medical->HSA (or something like that) to get to the HSA interview. Go through it to the end.

 

Once you show HDHP coverage, the code W amount will be removed from your income.

1 Replies
Expert Alumni
Jan 31, 2024 8:33:47 AM

Contributions to your HSA are considered by the IRS to be taxable until you demonstrate that you are covered by the appropriate High Deductible Health Plan (HDHP), which you do in the HSA interview.

 

From what you said, it seems like you did not go through the HSA interview to report on your HDHP coverage. Did you? Go to Medical->HSA (or something like that) to get to the HSA interview. Go through it to the end.

 

Once you show HDHP coverage, the code W amount will be removed from your income.