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I contribute to my HSA through an auto deduction from my paycheck plan. Do I get to claim any of this as a deduction or tax break?

 
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PaulaM
Employee Tax Expert

I contribute to my HSA through an auto deduction from my paycheck plan. Do I get to claim any of this as a deduction or tax break?

On your W-2, the Box 12 code W amount includes both the employer and employee pre-tax contributions, including incentives.  If you contributed to your HSA only through payroll deductions, do not enter them anywhere else in TurboTax. Payroll contributions reduce your wages and you wouldn't be taxed on the amounts.

Also, be certain to indicate that you were enrolled in a HDHP. This is a requirement for the participation in an HSA. If you miss entering this information, the program will calculate a contribution penalty.

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1 Reply
PaulaM
Employee Tax Expert

I contribute to my HSA through an auto deduction from my paycheck plan. Do I get to claim any of this as a deduction or tax break?

On your W-2, the Box 12 code W amount includes both the employer and employee pre-tax contributions, including incentives.  If you contributed to your HSA only through payroll deductions, do not enter them anywhere else in TurboTax. Payroll contributions reduce your wages and you wouldn't be taxed on the amounts.

Also, be certain to indicate that you were enrolled in a HDHP. This is a requirement for the participation in an HSA. If you miss entering this information, the program will calculate a contribution penalty.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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