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Level 3
posted Apr 22, 2020 8:58:29 AM

HSA

I live in NJ and work in NY.

 

Can I take an HSA deduction in NY and a medical deduction in NJ for expenses I paid for through my HSA?

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1 Best answer
Employee Tax Expert
Apr 22, 2020 9:16:33 AM

Expenses paid through an HSA are never deductible, if have already received the tax benefit of the HSA contribution. The HSA contribution will show in box 12 of your W-2 with code W. This will then populate to your state return. These contributions are reducing the income reported in box 1 of your W-2, thereby reducing your taxable income for the state, if it is allowed in your state.

 

The contributions will be reducing your NY income, as it was NY-sourced income. Employer contributions to HSAs are included in NJ income and employee contributions are not deductible on the NJ individual tax return. 

1 Replies
Employee Tax Expert
Apr 22, 2020 9:16:33 AM

Expenses paid through an HSA are never deductible, if have already received the tax benefit of the HSA contribution. The HSA contribution will show in box 12 of your W-2 with code W. This will then populate to your state return. These contributions are reducing the income reported in box 1 of your W-2, thereby reducing your taxable income for the state, if it is allowed in your state.

 

The contributions will be reducing your NY income, as it was NY-sourced income. Employer contributions to HSAs are included in NJ income and employee contributions are not deductible on the NJ individual tax return.