When you enter W2 information in Turbo Tax Federal and you get to Box 12 and enter Code S it appears as Roth Simple. However the IRS instructions for W2 box 12 code S states that it is a 408(p) Simple IRA. It then enters this information on the IRA Information Worksheet under Part II box 6 and 8.
The problem is that it is not a Roth IRA it is a 408(p) Simple IRA. I thought these are two different types of IRA's and from a tax standpoint would be handled differently. 408(p) Simple IRA taking the contribution before taxes and a Roth Simple taking the contribution after taxes. So, does this coding need to be fixed? Thanks for any help to clarify this situation.
