HSA Excess contributions - Current Tax year
Hello -- Thanks in advance here....
So this was my first year with a HDHP, and I accidently over-contributed to the HSA account. I contributed $5540, and my health care provider (GEHA) will be contributing $1800 .... putting me over the limit. Luckily I caught this early enough (Today is Dec 10). I am planning on filing a contribution reversal of $60 ( so add little padding) with the HSA, and they will send me a check for the excess ($60) . But I'm guessing my employers W2 will not reflect this, and will still show the excess contribution. My employer is the Federal Gov't, and so getting a corrected W2 is not easy. Also - since the excess contribution check is coming to me, it needs to be added to income, and appropriate taxes deducted. How will this all work? Would it be easier to just take the penalty?
