How Do I Know My HSA Contributions Reported on W2?

When it comes to understanding your HSA contributions reported on your W2 form, it's important to know that HSA contributions are pre-tax deductions made from your paycheck to fund your health savings account. Here's how you can easily identify your HSA contributions on your W2:

1. Look for Box 12 on your W2 form - HSA contributions are reported under code W.
2. The amount contributed to your HSA will be listed next to code W, indicating how much you have saved in your HSA over the year.
3. Verify that the amount listed matches your own records of HSA contributions made throughout the year.

Checking your W2 form for HSA contributions is crucial for monitoring your tax-advantaged savings and ensuring the accuracy of your tax filings. If you have any concerns or discrepancies regarding your HSA contributions on your W2, it's best to consult with a tax professional for guidance.

When examining your HSA contributions on your W2 form, remember that these contributions are deducted from your paycheck before taxes, which can ultimately save you money when tax season arrives. To find your HSA contributions, check Box 12 on your W2, where you'll see code W, indicating your contributions for the year. This amount shows how much you've been able to put aside for your health savings account, which is an incredible resource for managing healthcare costs.