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jaydee440
New Member

Is FSA the same as HSA? or does FSA show up on W2 and you don't have to input information

 
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2 Replies

Is FSA the same as HSA? or does FSA show up on W2 and you don't have to input information

They are different. Amounts taken out of your paycheck and put into an FSA should have reduced taxable wages as reported in Box 1. For many with an FSA, that's it, nothing more to report. But if you put money into a dependent care FSA, there will be an amount in Box 10, requiring Form 2441.

Karis_F
Employee Tax Expert

Is FSA the same as HSA? or does FSA show up on W2 and you don't have to input information

No. An HSA is a Health Savings Account that requires enrollment in a High Deductible Health Plan (HDHP) to make contributions. HSA contributions made through your employer will be on your W-2 in Box 12 with Code W

 

An FSA is a Flexible Spending Account. Both an HSA and an FSA allow you to use pre-tax money to pay for out-of-pocket health care expenses. FSA funds are not reported on your tax return.

 

Here is a TurboTax Blog article that may be helpful:

HSA vs. FSA: What Are the Differences?

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