Tax year of HSA contributions on W-2
Employer contributions (including contributions through a cafeteria plan) include any amount an employer contributes to any HSA for you for 2019. These contributions should be shown in box 12 of Form W-2 with code W.
How do I record HSA contributions on my taxes?
Use Form 8889 to:
- Report health savings account (HSA) contributions (including those made on your behalf and employer contributions),
- Figure your HSA deduction,
- Report distributions from HSAs, and.
- Figure amounts you must include in income and additional tax you may owe if you fail to be an eligible individual.
Are HSA contributions tax-deductible in 2021?
The annual limit on HSA contributions will be $3,600 for self-only and $7,200 for family coverage. That’s about a 1.5 percent increase from this year.
IRS Announces 2021 Limits for HSAs and High-Deductible Health Plans.
| 2021 | 2020 | |
|---|---|---|
| Out-of-pocket limits for HSA-qualified HDHPs (IRS) | Self-only: $7,000 Family: $14,000 | Self-only: $6,900 Family: $13,800 |