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W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501
I received two W-2s this year. The first W-2 has box 12 filled with code D and amount 5687.50. The second W-2 has box 12 filled with code D and amount 13812.50.
When I click "Done with income", TurboTax prompts me to check my retirement contributions and tells me I contributed $19501 to retirement plan(s). It tells me my overpayment amount is $1.
If my calculator is correct, 5687.50 + 13812.50 = 19500. I've double checked the numbers multiple times. Everything was imported correctly and the values match the physical W-2.
What's going on and how do I fix this?
Thanks
‎April 7, 2022
8:16 PM