when the W code for HSA and an amount is listed, is that a pretax item? or is it able to be a deduction on the 1040? how do you know?
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HSA contirbutions noted on the w-2
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Code W means the employer either deducted these from the wage earner's pay pre-tax or paid them himself, or a combination of the two. When you code this in your software, it will flow thru to Form 8889. As long as it does not exceed the maximum, nothing happens since it is tax-sheltered. If it exceeds the allowable amount, that portion may be taxable. Hopefully, this is not the W-2 of a more-than-2% shareholder in an S-Corp since that has to be handled differently.
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Originally posted by JenMO View PostW code for HSA and an amount is listed
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