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kortneyhb
New Member

My employer told me that my W2 box 12 reports .08 over the family hsa limit; but they didn't over contribute to my family HSA. do i need a w2c as my w2 says im .08 over?

 
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2 Replies

My employer told me that my W2 box 12 reports .08 over the family hsa limit; but they didn't over contribute to my family HSA. do i need a w2c as my w2 says im .08 over?

Ignore the 8 cents since the IRS will.   That field entry will round down to the next whole number in the program. 

BillM223
Employee Tax Expert

My employer told me that my W2 box 12 reports .08 over the family hsa limit; but they didn't over contribute to my family HSA. do i need a w2c as my w2 says im .08 over?

So where is the error? Did your employer actually overcontribute to your HSA or not?

 

You would need a corrected W-2 only if your employer did not report the contribution accurately; in this case, the employer should issue a corrected W-2 with the number of the actual contribution.

 

If your employer actually did contribute more than your HSA limit, then enter this W-2 (as is) into TurboTax, and TurboTax will tell you that you have an excess contribution. Then it will ask you if you are going to withdraw the excess; answer "Yes" and let TurboTax handle this on the tax side. All you will have to do is make sure that you call your HSA custodian to withdraw the excess before April 18th.

 

If the employer correctly put the contribution on the W-2, and the number is not in excess of the annual HSA contribution, then there is nothing you need to do, except ask them why they think they overcontributed to your HSA.

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