When it comes to tax time and you're looking at your W-2 form, you might be wondering where your HSA (Health Savings Account) contributions are noted. HSA contributions are reported on Form W-2 in Box 12 with a code 'W'. This box is specifically designated for HSA contributions made through payroll deductions.
Understanding where your HSA contributions are reported can help you accurately file your taxes and take advantage of any tax benefits associated with your HSA.
Understanding HSA tax reporting can be a daunting task, especially when you stare at your W-2 form and try to make sense of where everything goes. One critical point to remember is that your contributions to the Health Savings Account are marked in Box 12 under code W, simplifying the process of tracking your pre-tax dollars.
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