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Old 02-09-2009, 06:37 PM
Mark Bole
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Default Re: HSA contributions/ W-2 reporting

jIM wrote:
- quote -

> I have a HDHP and HSA which is provided by my employer.
> I contribute some to my HSA
> My employer also makes contributions (similar to a 401k match).


If you contribute through your cafeteria plan (payroll deduction), then
both your amount and your employer's amount should be shown with a Code
W in box 12 of your W-2.


- quote -

> I have a question as to what is reported on the 1040 tax return for
> myself.
> I have one statement showing my HSA contributions coming from the
> custodian (JP Morgan Chase). It shows the sum total of all
> contributions (it does not show I contributed ~$800 and employer
> contributed $750).
> Do I report all $1550 of contributions on my tax return?
> Should the HSA contributions be reported on my W-2? Turbo Tax made it
> read like employer contributions are reported differently than my
> contributions.


They are shown on different lines of Form 8889. Check the instructions
for this form, might answer your question.

The idea is, if you already paid no tax because the contributions (yours
and your employer's) were excluded from your Box 1 wages, then no
further deduction is shown on Form 1040. However if you paid directly
into the HSA (not through your employer) and did not exceed the maximum
allowed from all contribution sources, then you get an adjustment
(deduction) on Page 1 of Form 1040.


- quote -

> In addition ~$35 of my employer's contribution (for 2008) was
> deposited in 2009. The HSA statement reflects this. If I can
> actually claim the $35 employers contribution, can I claim it on my
> 2008 return?


It counts for 2008, see worksheet in Form 8889 instructions.

- quote -

> I am fustrated with Turbotax because I cannot see the return until I
> file it, but I don't want to file it until I see how this was added on
> the tax return. If someone knows a better way, let me know.


Most tax software installed locally will let you preview the completed
forms on-screen, not sure about web-based versions.

-Mark Bole

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