What code on W-2 is for HSA?
Code W
Employers must report all employer and employee Health Savings Account (HSA) contributions made through payroll as a single aggregated amount on the employee’s form W-2 in Box 12 using code W.
Are employer contributions to HSA reported on W-2?
While employer contributions to an HSA may be excluded from the employee’s income, all employer contributions, including those made by the employee through a cafeteria plan, must be reported in box 12 of the employee’s W-2.
Why does my W-2 say my employer contribute to my HSA?
Code W in Box 12 generally contains the full amount of pre-tax contributions to your HSA, including amounts you elected to contribute. If your employer contributes to your HSA, those contributions are pre-tax, which means you didn’t pay tax on them.
What does HSA mean on my W-2?
On your W-2, Box 12 with code W indicates “Employer contributions to Health Savings Account.” Even though it says “employer” contributions, it is the sum of the amounts that your employer contributed to your HSA AND that you contributed through a payroll deduction plan.
What is Code W on my W-2?
Code W in Box 12 of your W2 indicates that you have an employer-sponsored Health Savings Account and that there was money deposited into your HSA through the payroll system at work. Code W opens up Form 8889, Health Savings Accounts, on your tax return.
What is 12b DD on W-2 form?
Box 12 amounts with the code DD signify the total cost of what you and your employer paid for your employer-sponsored health coverage plan. Code DD amounts are for informational purposes only — they don’t affect the numbers in your tax return.
How do I report employer contributions to my HSA?
File Form 8889 to: Report health savings account (HSA) contributions (including those made on your behalf and employer contributions).
What is Code W on W-2?
What is Box 12 Code DD?
Health Insurance Cost on W-2 – Code DD Many employers are required to report the cost of an employee’s health care benefits in Box 12 of Form W-2, using Code DD to identify the amount. It is included in Box 12 in order to provide comparable consumer information on the cost of health care coverage.
Which Box 12 code is HSA?
W-2
The code from box 12 of your W-2 for HSA (Health Savings Account) is code W (Employer Contributions to Health Savings Account).
What does box 14 mean on W2?
Box 14 of Form W-2 is for “information only” and is not required information, nor does it “balance” or reconcile to any other payroll tax forms or calculations. Savvy employers can use Box 14 to report any financial information to employees they wish to communicate.
What does box 12 code “W” on my W2 mean?
Code W in Box 12 of your W2 indicates that you have an employer-sponsored Health Savings Account and that there was money deposited into your HSA through the payroll system at work. Code W opens up Form 8889, Health Savings Accounts, on your tax return.
What is box 12 on W2 DD?
Employees may receive a Form W-2 with an amount reported in Box 12 with Code DD. But fear not—this amount is simply the total cost of the employee’s health insurance coverage paid by both the employee and the employer, and it is not taxable. The reporting requirement was enacted as part…
What is box 14 on my W-2 for?
Employers use Box 14 on Form W-2 to provide other information to employees . Generally, the amount in Box 14 is for informational purposes only. However, some employers use Box 14 to report amounts that should be entered on your employee’s personal tax returns.