Author Topic: W2 box 12 code W  (Read 282 times)

frugalnacho

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W2 box 12 code W
« on: February 04, 2019, 07:26:01 PM »
I participated in a HDHP with an HSA in 2018.  The company put $500 into my HSA in January, and I elected to contribute the family max of $6,400 (plus the $500 from the company brings me to the annual limit of $6,900).  Payroll is done twice monthly, 24 pay periods per year, so I had $6,400/24=$266.67 taken out each pay period.  I worked until late October, and my final paycheck was October 25, so I received exactly 20 paychecks, each with $266.67 put towards my HSA. 

By my calculations I contributed $266.67*20 = $5,333.40.  Plus $500 from my employer brings it to $5,833.40.  I cross checked with my HSA provider and that is the same figure that they have.  However on my W2 in box 12 with code W I have a value of $5516.72.

Is there something obvious I am missing as to why box 12 code W would differ from my $5,833.40 value? Or did my company make an error on my W2? 

That wouldn't surprise me as last year they messed up the same box on my W2 - they incorrectly categorized my FSA contributions as box 12 code W last year.  https://forum.mrmoneymustache.com/taxes/w2-box-12-code-w/

MDM

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Re: W2 box 12 code W
« Reply #1 on: February 04, 2019, 11:29:20 PM »
Is there something obvious I am missing as to why box 12 code W would differ from my $5,833.40 value?
No.

$5516.72 is very close to $266.67 * 19 + $450, if that provides any clue....

frugalnacho

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Re: W2 box 12 code W
« Reply #2 on: February 05, 2019, 06:43:35 AM »
Is there something obvious I am missing as to why box 12 code W would differ from my $5,833.40 value?
No.

$5516.72 is very close to $266.67 * 19 + $450, if that provides any clue....

They put $500 into the account in January, and there were 20 paychecks.  Not only does the 2018 year end summary provided by my HSA match my numbers, but I can see the $500 and 20 instances of $266.67 in the transaction history.