As the title indicates, box 2 ($8.800.01) on my 5498-SA is $1650 Higher than W in my Box 12 on my W-2 ($7150). From my HSA transaction history, I can see that I contributed $2850 on 12/10/21, bringing the balance to $7200 (I was trying to catch up and overshot) and then contributed another $1450 on 12/23/21 (again, I miscalculated and overshot). There were also two employer contributions, one on 12/23/21 for $150 and one on 1/10/22 for December's monthly contribution for $150 (which appears in Box 3 on my 5498-SA as $150). I also contributed $2850 on 11/26/21, which makes my total contribution 7150 and my employer's total contribution $2000, introducing a third number that does not appear on the W2 or the 5498-SA, $8950. Finally, I removed $1755 ($5 extra to account for any gains on the excess contribution) from the HSA to hopefully correct the excess contribution.
I understand that the amount with code "W" in box 12 of my W-2 is the sum of the amounts that my employer contributed to my HSA AND that I contributed through a payroll deduction scheme. I would have thought that this should be $8950, as indicated by the total stated above.
I understand that Box 2 on the 5498-SA is
1. the sum of all contributions made in 2021 (both Code W and direct contributions) (should be $8950)
2. any contributions that I made in 2020 for 2019 ($0)
3. also includes any trustee to trustee transfers from an IRA to the HSA. ($0)
4. however, any excess contributions for 2018 are not included in Box 2.
I still can't figure out why all of these numbers are so different!
Note: I think I figured out what to do based on this post, which I think also applies to my situation, but if anyone can confirm or explain the discrepancy in numbers, please do! https://ttlc.intuit.com/community/taxes/discussion/hsa-excses-contribution-returned-tax-treatment/00...
The relevant section:
"The next screen is titled, "Did your employer tell you about any other contributions?" Despite the comment here about "previous year", you will check YES.
This will cause three lines to appear below. In the third line ("Employer and payroll contributions not reported in box 12 of your W-2"), you will enter the excess. After all, this is a contribution made through your employer that was not listed on the W-2.
This extra money will force TurboTax to realize that "you" made an excess contribution (I put "you" in quotes because you get to report every contribution whether you or someone else made them). TurboTax will then ask you how do you want to handle the excess: withdraw it all, withdraw some of it, or let it carry over to next year.
Since you have already withdrawn the excess amount, this is easy, just say that you will withdraw it all by the due date of the return."
