W2 Box12W and 5498-SA

6 replies
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My W2 Box 12W has a $$ amount, I contributed, not my employer.

In the deduction section it asked for any 5498-SA, and said I should enter it there. Which I did. If I have a high deductable health care plan, I don't think I should have (said don't do if you have a cafeteria plan, which I think is the same)

Is this correct? If so, do I need to file amended return and most likely owe more money? I just realized I made the same mistake on 2024 as well. Should I amend that, if so?

MindyB

Level 13

Yes, it sounds like you need to amend.

The W-2 Box 12 Code W has all payroll contributions, from you, your employer, or both. The only place the payroll contributions should be entered is the W-2 section.

In the deduction section, this is correct that HSA contributions belong here, however you will only manually enter any contributions you personally made (not through your employer). You will only enter the amounts you directly contributed outside of paycheck withholding in the deduction section. Otherwise, it is double counting the amounts you contributed via your paycheck.

Both personal contributions and payroll contributions appear on the 5498-SA.

Here is some more information on filing amendments: How to File an Amended Tax Return with the IRS

1421windsongAuthor

Level 4

Thank you for the clear and easy answer.

So, I need to amend, and I have a few questions

1. I arranged for my payment to be taken out 4/10 already. I've read I should wait for that (sometimes I don't see the actual withdrawal for 7-10 days after though).

When should I do the 2025 amend though?

2. I assume I should amend 2024 if I made the same mistake?

3. Would I be correct to assume I'll be paying tax on the $1760 I said I had as a deduction for HSA?

Wish that section was clearer. Not many people know what a cafeteria plan is.

I appreciate your help!

CatinaT1

Alumni - Intuit

Yes, you want to wait for your initial return to be completely processed before starting your amendment, including payment made. Yes, you will amend 2024 if you made the same mistake. Assuming you filed that return in 2025, you can go ahead with that amendment now. And yes, you are correct to assume you'll be paying tax on the incorrect deduction for the HSA.

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.

You must first wait until the initial return is completely processed.
You will have to use the same TurboTax account that you used for the original tax return.
Once you begin your amendment, you'll see your original return. 
The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
Only make changes to the areas of your return that need to be corrected.
You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment

Select your product below and follow the instructions.

Amend TurboTax Online

Amend TurboTax CD/Download

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