Other Income or Loss

[frearda]

Why does the value on the W-2 in box 12 with a code of W show up as other income?  I have never seen a code W show up as other income before.

[MindyB]

Code W is for HSA contributions.  Have you already entered the information about your HSA, ensuring that you indicated you were covered by a high-deductible health plan? If not, that may be why it is showing up as other income.

Here's how to use the interview to indicate the months you were covered by a High Deductible Health Plan (HDHP) in TurboTax Online:

• Navigate to Federal Taxes,  Deduction & Credits
• Choose "add/edit" HSA, MSA Contributions
• You will see a page titled "Your HSA Summary" which will show any deductions already computed from your W-2  
• Choose Edit, Check the box for HSA, Continue
• You'll now see a screen that says "Here's what we have so far" with the information from the 1099-SA, choose "Edit"
• After the entry screen for the amount distributed, double check the number is accurate, and when it asks "Did you spend your HSA money on medical expenses only?" answer "Yes", if accurate. 
• Choose done and continue until you get to a screen that says "Let's enter your HSA contributions"
• In the box "Any contributions you personally made (not through your employer)" don't enter the amounts you contributed through paycheck withholding. It has already been considered through your W-2 entry.
• Continue on, until you are asked if you were covered by a High Deductible Health Plan (HDHP) in 2024? 
• Answer the questions