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February 25, 2025
Question

WHY IS MY DEDUCTION ONLY SHOWING $110 FOR HSA SUMMARY. I ENTERED 4040 FOR WHAT I CONTRIBUTED

  • February 25, 2025
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    1 reply

    February 25, 2025

    Are you saying that your code W amount (in box 12 on your W-2) was 4,040?

     

    Your employer contributions (if any) plus your contributions by payroll deduction (if any) are added together and put in the code W amount in box 12 of your W-2. This is (oddly enough) called the "employer" contribution.

     

    At the same time, when your W-2 is printed, your employer removes the code W amount from Wages in boxes 1, 3, and 5.

     

    The "deduction" for the HSA is only what YOU contributed by sending contributions directly to the HSA custodian, not through your employer.

     

    There is no "deduction" for the code W amount, because this amount was never in your income in the first place. You can't tell this from looking at your W-2, but it is the way the HSA stuff works.

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