Query for W2 Box 12

YashSonani
YashSonani Member Posts: 1 Newcomer
in Income

HI All,

I have W2 Box 12 entry with code W(Employer HSA Contribution) of amount 3650. I can see I am paying tax on this amount. If I remove this my refund amount increase so that is my assumption for paying tax on this amount. Can any one clarify this field and whether it is taxable?

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Answers

  • rachels
    rachels FreeTaxUSA Agent Posts: 56

    Hi YashSonani,

    Health Savings Account contributions are typically nontaxable. However, it can depend on your specific situation. You will want to go to Deductions/Credits > Other Deductions/Credits > Health Savings Account (HSA) in your FreeTaxUSA account. Go through the screens here to enter information related to your HSA. Depending on the information entered here, part of your HSA contributions could be included in your taxable income.

    For more information on HSA's, please see:

    https://www.irs.gov/publications/p969

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