HSA Contributions

[Thalia86]

Hello there,

I got my 5498 form and on box 2 it shows the total contributions for 2022 was $1,150. However on my W2 form, box 12 W shows that my employer made a $750 contribution for the year. I would like to know why my W2 form does not include the difference of $400 which it was related to a well health program contribution. 

I am wondering if the $400 contribution that was not included in my W2 form can be deductible. This contribution was made by the Well Health program and not by me.

[MinhT1]

No.

You cannot deduct the $400 contributed by the Well Health Plan.

You can only deduct out-of-pocket contributions to your HSA.

[Thalia86]

My concern is that since the $400 contribution from the Well Health Plan was not included on the W2 form box 12, Code "W", will that amount have been included on Box 1 of the W2 form? 

Do I need to report the $400 Well Health Plan contribution in my tax return? if so, how do I report it (i.e. as other employer contributions, etc)?

[DawnC · Accepted solution]

No, that amount is not included in your Box 1 wage amount.   And no, you should not enter that $400 on your tax return.

Anyone can contribute to your HSA, but you can only take a deduction for what you (and your employer) contribute.   Since Well Health is outside of your employer, it is not included anywhere on your W-2.  

Code W: Company contributions (including employee contributions through a cafeteria plan) to an employee's health savings account (HSA).