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W-2 box 12 more than four codes needed
Hello,
My wife's W-2 has codes and values in boxes 12a (code C), 12b (code D), 12c (code AA), and 12d (code DD). She contributed to her HSA, and should also have a code W box 12 entry. Is this not included in her W-2 since there are only four boxes available? How do i correct this? Is this information available elsewhere?
My wife's W-2 has codes and values in boxes 12a (code C), 12b (code D), 12c (code AA), and 12d (code DD). She contributed to her HSA, and should also have a code W box 12 entry. Is this not included in her W-2 since there are only four boxes available? How do i correct this? Is this information available elsewhere?
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W-2 box 12 more than four codes needed
If you are sure that she contributed to and HSA then you should contact her employer for an amended W-2. However many people get HSA (Healthcare Savings Account) and FSA (Flexible Spending Account) confused. Is it possible that she has been contributing to an FSA? Contributions to an FSA will not be shown separately on her W-2. It lowers the amount in Wages (Box 1). HSA's can be much larger and carryover from year to year. They are designed to be used with high deductible medical insurance plans. FSA's have an annual limit of $2,500 and must be used in full within the calendar year. Any unused funds are forfeited.
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W-2 box 12 more than four codes needed
If you are sure that she contributed to and HSA then you should contact her employer for an amended W-2. However many people get HSA (Healthcare Savings Account) and FSA (Flexible Spending Account) confused. Is it possible that she has been contributing to an FSA? Contributions to an FSA will not be shown separately on her W-2. It lowers the amount in Wages (Box 1). HSA's can be much larger and carryover from year to year. They are designed to be used with high deductible medical insurance plans. FSA's have an annual limit of $2,500 and must be used in full within the calendar year. Any unused funds are forfeited.
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W-2 box 12 more than four codes needed
mnbob2, thank you for your informative reply. I just learned that, although my wife has had a balance in her HSA since 2015, she did not contribute to it in 2016. That explains the absence of a code W entry.
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