Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
martyjasper
New Member

HSA Contributions: 6000 was pre-tax out my paycheck, and 750 was direct deposit from my bank account, but I have no box 12 W on my W2. What is my deduction? 6750 or 750?

 
1 Best answer

Accepted Solutions
BMcCalpin
Level 13

HSA Contributions: 6000 was pre-tax out my paycheck, and 750 was direct deposit from my bank account, but I have no box 12 W on my W2. What is my deduction? 6750 or 750?

Yes, as Lisa995 says, you need a corrected W-2 because normally the employer must enter your HSA contributions made through the employer on the W-2 in box 12 with a code of W. Your form 8889 won't print correctly without it.

As for the $750, this is your "personal" contribution. It will appear on line 12 of Schedule 1 (1040) as an adjustment to income. You enter this on the "Let's enter your HSA contributions" screen on the second line (see screenshot below).

Properly done, the $6,000 will be removed by your employer from Wages in boxes 1, 3, and 5 before your W-2 is printed. So, in a sense, it isn't a "deduction" because it was never in your income in the first place.

The only place that the $6,000 will appear on your return is on the 8889 on line 9. Do not enter this amount anywhere else on your return.

 

[Edited 3/26/2020 8:42 am CDT - updated for 2019]

View solution in original post

2 Replies
Lisa995
Level 12

HSA Contributions: 6000 was pre-tax out my paycheck, and 750 was direct deposit from my bank account, but I have no box 12 W on my W2. What is my deduction? 6750 or 750?

You need to contact the employer for a corrected W2.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
BMcCalpin
Level 13

HSA Contributions: 6000 was pre-tax out my paycheck, and 750 was direct deposit from my bank account, but I have no box 12 W on my W2. What is my deduction? 6750 or 750?

Yes, as Lisa995 says, you need a corrected W-2 because normally the employer must enter your HSA contributions made through the employer on the W-2 in box 12 with a code of W. Your form 8889 won't print correctly without it.

As for the $750, this is your "personal" contribution. It will appear on line 12 of Schedule 1 (1040) as an adjustment to income. You enter this on the "Let's enter your HSA contributions" screen on the second line (see screenshot below).

Properly done, the $6,000 will be removed by your employer from Wages in boxes 1, 3, and 5 before your W-2 is printed. So, in a sense, it isn't a "deduction" because it was never in your income in the first place.

The only place that the $6,000 will appear on your return is on the 8889 on line 9. Do not enter this amount anywhere else on your return.

 

[Edited 3/26/2020 8:42 am CDT - updated for 2019]

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v