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In a HSA also a MSA?
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In a HSA also a MSA?
HSA and MSA are similar but not the same. See IRS link https://www.irs.gov/pub/irs-pdf/p969.pdf
HSA - 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.
However, if your made after-tax contributions on your own (independent of your employer), then those contributions would be entered. You would have to enter them to calculate a deduction. Enter under the Medical section.
On your HSA summary page, you will see Tax-free employer contributions, but it means both employer and employee contributions in total. It is just how the IRS codes it (Box 12 W)
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In a HSA also a MSA?
HSA and MSA are similar but not the same. See IRS link https://www.irs.gov/pub/irs-pdf/p969.pdf
HSA - 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.
However, if your made after-tax contributions on your own (independent of your employer), then those contributions would be entered. You would have to enter them to calculate a deduction. Enter under the Medical section.
On your HSA summary page, you will see Tax-free employer contributions, but it means both employer and employee contributions in total. It is just how the IRS codes it (Box 12 W)
**Mark the post that answers your question by clicking on "Mark as Best Answer"