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rdais22
New Member

My S Corp included my HSA contribution in wages. How do I deduct the HSA contribution on my 1040?

My S Corp (I am 100% owner) paid for a $7,750 contribution to my HSA.  I included the $7,750 in wages on my W-2, and the S Corp deducted that amount.  On my 1040, the $7,750 is included in wages.  How do I deduct the $7,750?  Turbo Tax is saying that my HSA deduction is 0.

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My S Corp included my HSA contribution in wages. How do I deduct the HSA contribution on my 1040?

In the HSA interview (Federal->Deductions & Credits->Medical->HSA, MSA Contributions), navigate to the screen that is titled "Let's enter your HSA contributions" (see screen shot below).

On the second line where it reads "personal contributions", enter your after-tax HSA contributions here. This number will be reported on line 12 on Schedule 1 (1040) as an adjustment to gross income.

Note that since you included the HSA contributions in Wages on your W-2, this is an after-tax contribution. 

 

[Edited 4/2/2020 11:33 am CDT - updated for 2019]

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2 Replies

My S Corp included my HSA contribution in wages. How do I deduct the HSA contribution on my 1040?

In the HSA interview (Federal->Deductions & Credits->Medical->HSA, MSA Contributions), navigate to the screen that is titled "Let's enter your HSA contributions" (see screen shot below).

On the second line where it reads "personal contributions", enter your after-tax HSA contributions here. This number will be reported on line 12 on Schedule 1 (1040) as an adjustment to gross income.

Note that since you included the HSA contributions in Wages on your W-2, this is an after-tax contribution. 

 

[Edited 4/2/2020 11:33 am CDT - updated for 2019]

rdais22
New Member

My S Corp included my HSA contribution in wages. How do I deduct the HSA contribution on my 1040?

Thanks much!

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