HSA Contributions

[tony121756]

In 2019, I had a HDHP plan for 7 months through my previous employer, so I am able to contribute up to $2625.00 tax-free into my HSA based on my age (over 55). In Box 12 under part W it has $655.75, but of that my employer only contributed $175 and the rest was taken out of my paycheck while I was employed. I then made additional contributions from my bank after separating from the employer.

My question is, shouldn't the amount in Box 12 part W be $175 and not $655.75? Otherwise the $480.75 difference would not be tax-deductible.  

[JohnW222]

You have a very sound point.  Logically, it would seem that the W-coded amount in Box 12 of your Form W-2 would include only your employer's contribution.  But, in fact, Code W actually represents the combined contributions of you and your employer.

Please see the TurboTax Help article "Where do I enter my HSA contribution?" for additional information. 

[Pabbo]

Hello JohnW222,

I have a similar situation. For 2019 tax year, my wife contributed $3,000 to HSA via payroll deduction.  Her employer contributed $750. The total of $3,750 is shown in Box 12 with code W.

My issue/question is: 

The entire amount of $3,750 is showing up as Additional Income (Schedule 1, Part I, Line 8.   

In a similar situation for 2018 tax year, none of the contribution appeared as taxable.

We did earn more in 2019 than 2018. Could an AGI cap for HSA deductions be the cause? We file MFJ

Thanks!

[JosephF8]

If it is currently showing as taxable income, have you gone through the HSA interview. That will be located under Less Common Income. You will need to select that your spouse had an HSA and deeper in the interview When and what type Family or Self only. 

[Pabbo]

was able to answer my own question- entered HSA a second time under "Deductions and Credits" / Medical