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February 12, 2025
Question

Do I need the SUM of All Boxes of 12 and All W-2s for HSA contributions?

  • February 12, 2025
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    February 12, 2025

    It depends- are you manually entering your HSA contributions made through payroll in the HSA entry in TurboTax? If so, you shouldn't do that as you will be double-counting your contributions. ‌If you have multiple W-2s, yes, all the contributions in box 12, code W are summed together to arrive at your yearly contributions.‌ TurboTax will sum them up for you. ‌If you have multiple jobs, the yearly maximum still applies.

     

    According to Why am I showing an excess HSA contribution?, the 2024 maximum for both employer and employee HSA contributions was as follows:

     

    • "$4,150 if you're under 55 at the end of 2024 and are covered by an individual (self-only) HDHP;
    • $8,300 if you're under 55 at the end of 2024 and are covered by a family HDHP;
    • $5,150 if you're 55 or older at the end of 2024 and are covered by an individual (self-only) HDHP;
    • $9,300 if you're 55 or older at the end of 2024 and are covered by a family HDHP."