This is my first time filing taxes where I have had to deal with a health savings account. I know that I should consult a CPA, which I probably will do tomorrow anyways, but was wondering if anyone could offer any help. First of on my w2 in box 12 it states a code of W $519.96. From what I read a code w means that my employer made the contributions, but all the contributions were deducted from my pay and is shown on my pay stubs, so how is that an employee contribution and not a self contribution? The insurance company that my HSA is with sent me a 5498 SA form. On that it states that I should use a form 8889. From what I have been told, I should not be taxed on the amount in my HSA. In Turbo Tax it reported the $519.96 on line21 of my federal 1040. An accountant I know said that the amount should be deductible and reported on line 25 of my federal 1040, hence I won't be taxed on the amount in my HSA. Now what I am confused about is everything in Turbo tax for the form 8889 does not correspond to the form 5498sa given by the HSA's trustee. On my 5498 it shows the following: Box 1 empty Box 2 $519.96 Box 3 empty Box 4 empty Box 5 $521.57 Box 6 HSA is checked off
From those boxes what information corresponds to the information needed for a 8889 form? Basic information that I think is correct when looking at the form 8889 is that only myself is covered under the high deductible plan and my deductible is at $2100. Thanks for any input. This is my first time working with taxes for a HSA and I have never had any problems filing my taxes in the past nor got audited, so I'd like to keep the clean record going.