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HSA contributions for tax purposes
Posted on 2/17/19 at 12:18 pm
Posted on 2/17/19 at 12:18 pm
This was my first year with an employer-provided HSA. I made somewhat substantial pretax contributions (over $4000). Now, on my W2, those contributions are listed as being made by my employer.
Is this typical? Filing taxes online, and I am prompted to provide my personal contributions to the HSA, but every contribution is listed as made by my employer.
Is this typical? Filing taxes online, and I am prompted to provide my personal contributions to the HSA, but every contribution is listed as made by my employer.
4
Posted on 2/17/19 at 12:47 pm to Dayman
This should already be represented in your W2. You shouldn't need to enter it separately on turbo tax or other online filings.
Posted on 2/17/19 at 4:24 pm to Dayman
It has been a while since I contributed to an HSA (retired) but I recall having that same issue/confusion. I just did what TurboTax said to do and it took care of the rest.
I can not say I understand it, and sure can not explain it, but I was confident TT made the correct calculations.
I can not say I understand it, and sure can not explain it, but I was confident TT made the correct calculations.
Posted on 2/18/19 at 5:50 am to Dayman
It’s considered a cafeteria deduction so therefor the employer contribution representation is accurate.
Posted on 2/18/19 at 10:13 am to Dayman
quote:
and I am prompted to provide my personal contributions to the HSA, but every contribution is listed as made by my employer.
Contributions made through your employer are not considered "personal contributions" in this sense. This is true even if the contributions were made out of your pre-tax wages.
You already got the deduction via the pre-tax deal. If you enter them in here as well, the software may try to give you an additional deduction.
If you did't contribute the money pre-tax through your employer, you would enter here and take the deduction at this time.
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