Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: HeftyDude Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121482  
Subject: Health Savings Acct Date: 2/3/2007 10:51 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
So in 2006 we got ourselves a new High deductible health plan and a nifty Health Savings Account at work. I maxed out my (supposedly pre-tax) contributions of $3k per year to the HSA to offset the $3k per year deductible. At least that's how they told me it was supposed to work out.

So now I just got my W-2 from the company and box 12a reports that my contributions to the HSA are listed with letter code W which TTax lists as "Employer Contributions to Health Savings Account". Excuse me, but I contributed to that account, not my employer.

Anyway, that contribution now shows up as income on Line 21, per Form 8889 - (I should add here that I imported the W-2 from "e-file" but have verified every box with the paper version). That shouldn't matter though, it's just a way to explain how Form 8889 got into my return without my permission. I don't yet see a way in the interview to discuss the topic of HSAs. Is it in there? Once I get through that topic, will the HSA contributions disappear from taxable income?

So, what gives? Did the employer screw up my W-2? Or was I sold a bill of goods on the whole HSA concept?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement