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Retirement tax questions
TurboTax has been updated today to allow the reporting of these types of salary deferrals. It took Intuit a few weeks to understand that the IRS notice issued on January 8, 2024 regarding these types of deferrals had no impact on the operation of TurboTax.
"Therefore use Code D instead of Code S, even though it is a Simple IRA"
False. Code D is only for a SIMPLE 401(k) salary deferral. Code S is to be used for a SIMPLE IRA salary deferral. Nothing has changed with regard to that. See the instructions for 2023 Form W-2.
‎January 31, 2024
4:46 PM