2150225
I opened an HSA account in 2020. My employer deducted $600.00 total for the year from my paycheck and I contributed $1000.00 of my own money as a catch-up. I spoke to HR and they directed me to the HSA company. They gave me forms to fill out to attain the funds and close the account. But I have already received my W-2 which shows the amount in Box 12 of 600.00.
Am I going to need a corrected W-2 or can I send the original in with an explanation.
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to give correct instruction clarify what the error was.
the w-2. is correct. how to report depends on what exactly you mean by opened HSA in error. did the $600 go back to the employer or did you get to keep it? what year was the HSA closed? did you receive any tax forms for the HSA contributions and distribution? what was on them?
The W-2 was correct. It showed in box 12 the $600.00 my employer had deducted from my paychecks. I also made a self contribution A catch up of $1000.00 from my savings. The account was open in error January of 2020. Preparing my taxes this year , realized i was not eligible because I was covered under my wife low deductible health insurance. At this time the money is still in the HSA Account. I have not received any tax forms from my employer or account administrator because I have not withdrawn the money yet.
I am looking for how to handle this return of HSA Fund on my 2020 Tax Return. When I complete the request for funds to be returned to me...is there a Turbo Tax Form to handle this correction. What form is required to be filed with with my 2020 Tax Return. ( My employer will not issue a corrected W-2 Form)
I am wondering what i will need to do correct this issue.
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