For the first time, I have a health savings account (HSA). My employer made a contribution to this account, and I believe that it is not subject to income tax.
Is there an existing Quicken category that applies to this contribution? I mean, employment earnings that are tax-free.
I use the hidden _HSAEmployerContrib category to track the additional "Personal Income" with the "W-2:Salary or wages, self" tax line item on the paycheck with the transfer to the tax-deferred HSA account entered as pre-tax.
It isn't
Is it showing up on your paycheck? When my company did that as a one time contribution, the amount showed up in the HSA account, but not on the pay stub.
If it is on your paycheck and affects your gross pay, I'd think all you do is show a transfer to your HSA account. Then amount should then show up on your W-2 next year as non-taxable.
Sherlock, In what ver of Q does that category exist? Because in QW2017 R3, with "show hidden categories checked", I can't find it in my Category list.
Dan,
As Quicken doesn't provide explicit HSA support, I created the _HSEmployerContrib category many years ago likely modeled on the _401EmployerContrib category.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required