View Full Version : HSA
Trishala Raj
Mar 9, 2019, 01:46 PM
ATE, can you please explain if code W in box 12 includes employer and employee contrubitions for HSA? Should this amount match Form 5498 SA and what if there is a difference ? Is it taxable?
Thanks,
AtlantaTaxExpert
Mar 9, 2019, 03:37 PM
The Code "W" shows what was contributed by the employee through payroll deductions. The employer match is NOT included.
the amount on the Form 5498-SA shows the fair market value of the account on 31 December 2018.
Trishala Raj
Mar 9, 2019, 03:43 PM
Is the amount in box 12 already included in box 1 wages? If the amount in box 12 code W is different from Form 5498 sa , should the difference be entered anyway?
AtlantaTaxExpert
Mar 9, 2019, 04:16 PM
No.
The Form 5498-SA has NO BEARING on the tax return; it is merely an information return to tell the IRS the year-end value of the HSA.
Trishala Raj
Mar 9, 2019, 08:02 PM
Thank you for your response.
AtlantaTaxExpert
Mar 9, 2019, 08:08 PM
Glad to help!