The amount reported on your W-2 in Box 12 with code W
includes both your contributions to the Health Savings Account (HSA) and any
contributions made by your employer on your behalf. You will not see a deduction on your tax
return for that amount because the money contributed was pre-tax.
It is possible to make an after-tax contribution to your HSA
prior to the due date of your tax return in order to reduce your taxable
income. However, you should be careful
to stay under the contribution limit for the HSA depending on your particular
type of High Deductible Health Plan (HDHP) coverage, your age, and the months
that you were covered by the HDHP.
TurboTax can give you some guidance with this in the HSA
section of your return. When you go
through this section you will see a screen that asks if you made any
contributions personally, not through your employer. This is where you will enter any
contributions that you have made or plan to make by the due date of your
return.
Use the following steps to go directly to the HSA section of
your return:
On the top row of the
TurboTax online screen, click on Search (or for CD/downloaded TurboTax
locate the search box in the upper right corner)
This opens a box where you
can type in “hsa” (be sure to enter exactly as shown here) and click the
magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will
give you an option to “Jump to hsa”
Click on the blue “Jump
to hsa” link
