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I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

 
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Level 14

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

On your W-2, Box 12 with code W indicates "Employer contributions to Health Savings Account."

Even though it says "employer" contributions, it is the sum of the amounts that your employer contributed to your HSA AND that you contributed through a payroll deduction plan.  There is no breakdown of what you contributed and what your employer contributed.

For more information on the codes listed in Box 12 of your W-2, please see the following FAQ:  What do the letter codes in Box 12 of my W-2 mean?

 

 

[Edited | 3/10/2020 |  10:22am PDT]

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Level 14

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

On your W-2, Box 12 with code W indicates "Employer contributions to Health Savings Account."

Even though it says "employer" contributions, it is the sum of the amounts that your employer contributed to your HSA AND that you contributed through a payroll deduction plan.  There is no breakdown of what you contributed and what your employer contributed.

For more information on the codes listed in Box 12 of your W-2, please see the following FAQ:  What do the letter codes in Box 12 of my W-2 mean?

 

 

[Edited | 3/10/2020 |  10:22am PDT]

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New Member

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

So my annual income was reduced by the amount I put into a HSA, however then I am required to put in box 12 letter W my contribution and the employers contribution to the HSA.  When I insert the amount in box 12 letter W it reduces my tax refunds.  I thought HSA was supposed to be non taxed but it looks like it is actually just taxed at end of year.  What am I missing?

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Expert Alumni

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

The most common error I see when entering HSA contributions are double reporting. Typically, these payroll contributions are reported on your W-2 in box 12 with code W. If that is the case, no other contribution needs to be reported in the software.

 

Under the Deductions & Credits menu, confirm the following:

  • Expand the menu for Medical
  • Click Start/Revisit next to HSA, MSA Contributions
  • Confirm the account ownership and click Continue
  • Continue in through the screens until you reach Let's enter your HSA contributions
  • Stop here. If all of your contributions were through payroll deductions and reported on your W2, do not enter anything on this screen. If that is the case, either leave the box empty or type $0 in the box next to Any contributions you personally made

If it turns out you did have an excess contribution, the following applies. Generally, you must pay a 6% excise tax on excess contributions. See Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. The excise tax applies to each tax year the excess contribution remains in the account.

 

You may withdraw some or all of the excess contributions and avoid paying the excise tax on the amount withdrawn if you meet the following conditions.

  • You withdraw the excess contributions by the due date, including extensions, of your tax return for the year the contributions were made.
  • You withdraw any income earned on the withdrawn contributions and include the earnings in "Other income" on your tax return for the year you withdraw the contributions and earnings.

Pub 969 Tax-Favored Health Plans

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New Member

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

I may be misunderstanding this response here but it seems that this link's response contradicts yours.

 

https://ttlc.intuit.com/community/retirement/discussion/aren-t-hsa-contributions-pretax-why-does-my-...

 

From what i gathered, after you enter when you contributed and verify that you do indeed have a HSA and all purchases were tax deductible, at this point, you will then see the refund go back up.

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Expert Alumni

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

Your HSA contribution will have a code 'W" in one of those boxes in box 12. I hope this answers your question. 

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New Member

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

What are the codes on box 12

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Expert Alumni

I don't understand my HSA contribution - Box 12 has 12a, 12b, 12c and 12d. Which one shows my personal contribution to my HSA - not what my employer contributed

Please check the link below for what the codes in box 12 mean.

What do the letter codes in Box 12 of my W-2 mean?

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