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parrotheadgal
New Member

I have an HSA that I have not used and it is on my W-2, but it is not showing up under my deductions and credits section? Why not?

 
1 Reply
TomYoung
Level 13

I have an HSA that I have not used and it is on my W-2, but it is not showing up under my deductions and credits section? Why not?

I assume that the money shows up in Box 12 of your W-2, coded "W."

If that's the case then you can't take a deduction for the contribution because the money that was deposited in the HSA - an account that you own and control - was never taxed in the first place.  Box 12 money coded "W" is money that you earned from your salary or wage, but it's NOT included in Box 1 of the W-2, so it will never be taxed.

You can't contribute pre-tax money AND take a deduction for that money; that would be double dipping.

On the other had if you took money out of your checking account - after tax money - and made a contribution to an HSA that contribution would count as a deduction.

Tom Young

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