What Number on a W-2 Indicates HSA Contribution? - HSA Awareness Guide

If you're wondering what number on a W-2 indicates HSA contribution, you're not alone. Understanding the various boxes and figures on your W-2 form can be confusing, but when it comes to your HSA contributions, there is a specific box to look for. So, let's delve into the details.

When you contribute to a Health Savings Account (HSA) through your employer, the amount you contribute is not subject to federal income tax withholding. On your W-2 form, the amount you contribute to your HSA should be reported in Box 12 with a specific code.

The specific code for HSA contributions on a W-2 is Code W. This code indicates the total amount of HSA contributions made by both you and your employer during the tax year. It's essential to pay attention to this code when reviewing your W-2 form to ensure that your HSA contributions are accurately reported.

Understanding your W-2 form can be tricky, especially seeing how various deductions and contributions appear. If you’re contributing to a Health Savings Account (HSA) via your employer, it’s crucial to identify the right part of your W-2 to ensure you're getting the most from your contributions.

The amount contributed to your HSA will be found in Box 12, labeled with a code that clarifies the purpose of the entry. For HSA contributions, keep an eye out for Code W.

This code not only signifies your contributions but also those made by your employer, ensuring all funds are accounted for when filing your taxes. For accurate tax reporting, be sure to cross-check this figure when filling out your tax return.