dmertz
Level 15

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.

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