HSA contribution error? Form 5498-SA shows contributions but W-2 shows zero

I just got my Form 5498-SA for 2024, and I'm a bit confused. Box 2 shows HSA contributions of $173 for 2024. But when I look at my W-2, there's nothing reported in box 12 for HSA contributions, which seems correct to me. The thing is, I shouldn't have any HSA contributions for the 2024 tax year at all. My husband and I are on his HDHP and we've been contributing through his HSA instead of mine. I think what happened is that the $173 on my 5498-SA (box 2) is actually from my final paycheck from my old job that I received on January 15, 2024, but it was marked as a contribution for the 2023 tax year. Can I just ignore the $173 on the 5498-SA and go with what my W-2 shows ($0 in contributions) when I file my taxes? Or is this something I need to be concerned about? I don't want to mess up our tax filing over this.

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20 comments

Sean O'Connor

•8M

This is actually a common point of confusion! The 5498-SA form and your W-2 are reporting different things, and both can be correct at the same time. Your Form 5498-SA is showing all contributions made to your HSA account during calendar year 2024, regardless of which tax year they were designated for. So that $173 contribution made in January 2024 (for tax year 2023) is showing up on your 2024 Form 5498-SA because that's when the money physically moved into the account. Your W-2 is correctly showing $0 in HSA contributions for tax year 2024 in box 12 (with code W) because you didn't make any 2024 tax year contributions through payroll deduction. You're right that you can ignore the $173 on your 5498-SA for this year's tax filing. That contribution should have been reported on your 2023 tax return if it was designated for tax year 2023. The IRS understands this timing mismatch between the forms.

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Sean O'Connor

•8M

The 5498-SA is primarily an informational form, and you generally don't need to attach it to your tax return. It's sent to both you and the IRS as a record of all transactions in your HSA during the calendar year. Your accountant likely asks for it to verify information and ensure everything reconciles properly. They're checking that your HSA contributions don't exceed annual limits, confirming account balances, and making sure the amounts match what you're reporting on Form 8889 (the form used to report HSA activity on your tax return). It's a good cross-reference to catch any potential issues before filing.

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Luca Conti

•8M

I had almost the exact same situation last year! I found a really helpful tool that saved me so much stress with my HSA confusion. Check out https://taxr.ai - it helped me figure out all this HSA contribution mess by analyzing my tax documents and finding the discrepancy immediately. It flagged my 5498-SA/W-2 mismatch and explained exactly what was happening and that it wasn't actually an error. I had multiple contributions across tax years and was totally lost trying to figure out which form was "right." The tool showed me how to properly report everything without double-counting or missing anything.

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Luca Conti

•8M

It handles multiple HSAs really well - you just upload all your forms and it identifies each account separately. It tracks contribution limits across all accounts to make sure you don't exceed the family maximum. The tool doesn't directly connect to tax software, but it gives you specific instructions tailored to your situation that you can follow in any tax program. It's not generic advice - it analyzes your actual documents and identifies the specific forms and boxes where issues might exist. I had three different accounts last year (old employer, new employer, and a separate individual HSA), and it sorted everything perfectly.

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CyberNinja

•8M

Just wanted to follow up - I tried taxr.ai after posting my skeptical comment, and wow, it actually worked amazingly well for my complicated HSA situation. I uploaded my W-2s, 5498-SAs, and 1099-SAs from both my account and my wife's, and it immediately identified that one of our contributions from January was for the previous tax year (exactly like OP's situation). It even caught that we were just $200 short of maxing out our family contribution and suggested we could still make that contribution before the tax deadline. The document analysis was really impressive - it caught things my accountant missed last year. Definitely saved me from potential headaches with the IRS.

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Mateo Lopez

•8M

Anyone else spend hours on hold with the IRS trying to get clarity on HSA issues? I tried for THREE DAYS to get someone on the phone to explain why my 5498-SA and W-2 didn't match. Finally discovered https://claimyr.com and watched their demo at https://youtu.be/_kiP6q8DX5c - they got me connected to an actual IRS agent in under 20 minutes who confirmed exactly what the first commenter said. The agent explained that the 5498-SA shows calendar year contributions while the W-2 reflects tax year contributions, and there's often confusion when contributions are made in January for the previous tax year. Saved me so much time and stress compared to constantly calling and getting disconnected.

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Mateo Lopez

•8M

It doesn't just call for you - it uses technology to navigate the IRS phone system and waits on hold so you don't have to. When they finally reach an agent, you get a call to connect with them directly. It's your conversation with the actual IRS, they just handle the waiting part. The reason everyone doesn't do it is because most people don't know about it. I found it after my third day of trying to get through. They have some kind of system that keeps your place in line while constantly trying different IRS numbers and departments. You just get notified when an agent is available, and then you take over the call. Totally changed my perspective on dealing with tax issues.

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Ethan Davis

•8M

I feel like I need to apologize for my skeptical comment earlier. After my frustration boiled over waiting on hold with the IRS for 3+ hours yesterday, I decided to try Claimyr out of desperation. In less than 30 minutes, I was talking to an actual IRS representative who answered my HSA contribution timing questions completely. The agent confirmed that my January 2025 contribution for tax year 2024 would show up on next year's 5498-SA but should be reported on this year's taxes. She even helped me understand how to document it properly on Form 8889. I spent weeks trying to get this information on my own. Consider me converted from skeptic to believer.

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Carmen Ortiz

•8M

The contribution limit that applies is based on the tax year you're contributing for, not when you physically make the contribution. So in your example, if you make a contribution in January 2024 but designate it for tax year 2023, the 2023 limit of $3,650 would apply. The IRS allows contributions for a particular tax year until the tax filing deadline (usually April 15th of the following year) without extensions. This is why January contributions can be tricky - you need to clearly communicate to your HSA provider which tax year the contribution is for.

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Andre Laurent

•8M

Yeah this happens all the time! The actual deposit date is what matters for the 5498-SA, not when it was withheld from your paycheck. If your employer processed the December 2023 withholding but the money didn't actually hit your HSA account until January 2024, it shows up on the 2024 5498-SA. The key is to keep good records of which tax year each contribution was designated for. My employer gives us a report that shows the tax year designation for each contribution, which helps a lot when there's confusion.

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Sofia Torres

•5M

This is exactly the kind of HSA timing confusion that trips up so many people! You're absolutely right to trust your W-2 over the 5498-SA for tax filing purposes. The $173 showing up on your 2024 Form 5498-SA is just documenting when the money physically moved into your account, not which tax year it applies to. Since you mentioned this was from your final paycheck in January 2024 but designated for 2023, you should have already reported that contribution on your 2023 tax return. For your 2024 filing, you'll report $0 in HSA contributions, which matches what your W-2 shows. One tip for the future: when you make contributions in January for the previous tax year, make sure to clearly specify the tax year designation with your HSA provider. Some people get caught off guard when they see contributions on forms that don't match their expectations. Your situation is totally normal and you're handling it correctly!

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