HSA Contributions

Forum|Forum|3 years ago
February 22, 2023
1 reply
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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.

Best answer by DawnC

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).

MinhT1

Level 15

No.

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

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

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Thalia86Author

Level 2

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)?