I'm in the process of filing my 2023 taxes and encountered a discrepancy regarding the HSA contributions on my W-2. I'm seeking some clarification on this matter.
Here is the context. In 2023, I enrolled in an HSA and made a pre-tax contribution of $3,350 through payroll deductions. Additionally, my employer contributed $500 pre-tax to my HSA account. So, collectively, the total contributions amounted to $3,850. On my W-2, in Box 12, there is an entry labeled "W" with a value of $500. My understanding is that this figure represents the $500 contribution made by the employer and does not encompass my own contribution. Furthermore, the $3,350 contribution I made is deducted from my gross pay, so it is not reflected in Box 1 of the W-2.
However, I also received a 5498-SA tax form for my HSA account, which indicates a total contribution of $3,850 for 2023. This figure seems to encompass both my contribution and the employer's contribution. I'm concerned about the disparity between the amount in W-2 Box 12W and the total contribution shown on the 5498-SA. Should I ever include the $3350 contribution on my tax return? If so where should I put it?
