Box 12 code S

Forum|Forum|2 years ago
January 27, 2024
2 replies
1 view

I cannot file because of this code. It says check back with us soon.

TurboTax Deluxe Online

DianeW777

Level 15

The IRS is not yet ready for this code on the W-2. Continue to check back in your TurboTax return to see when the message is clear and you can go forward. The IRS has not released a specific date as of yet.

On January 8, 2024, the IRS released a notice describing many changes required to implement the Secure Act 2.0. If you try to enter Code S for Box 12 of your W-2, you may see this message:

"We're updating how SEP and simple plan contributions are reported on the tax return based on new guidance from the IRS." Section 601 of the Secure Act 2.0 refers specifically to Simple and SEP Roth IRAs. Code S in box 12 defines how to handle a SIMPLE plan.
Internal Revenue Bulletin: 2024-02 | Internal Revenue Service - Question & Answer = K5

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aaronmg412

Level 3

This is still not fixed. Any update @DianeW777 ?

KrisD15

Level 15

Please have patience.

Use this link to be notified when the program is updated.

@Sportespice

@aaronmg412

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JCJASSO

Level 2

When I run the federal check I get an error about this. W-2 box 12 code S should not be greater than the value in box 12 with code S for this W-2. Box 13 in my W-2 is checked for retirement plan.

When I click to correct, it shows me the amount from my W-2 and also shows me part of a form where it has letter S but both have the same amount. I don't understand what needs to be changed. Is it related to this same issue?