Yes. The first thing you should do is contact your employer and ask for a corrected W-2. As you stated, once you place the entire amount in Code W of Box 12 of your W-2, it will tax you on the excess contributions. Your W-2 input does have to match what is submitted to the IRS.
Although there is a way to add additional contributions (that your employer did not know about) on the HSA screens, there is no way to deduct contributions that were not actually made and incorrectly stated on your W-2.
@goldenho
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
