Box 12 code--We're updating how SEP and SIMPLE plan contributions are reported on the tax return based on new guidance from the IRS. Please check back with us soon. What?

This situation has not been fixed yet. I checked yesterday and also tried doing the Q&A way instead of forms and the S box is still pink on the W2. I’ll check back in another week.  

That section is currently being updated in TurboTax.  On January 8, 2024, the IRS released a notice describing many changes required to implement the Secure Act 2.0.  Section 601 of the Secure Act 2.0 refers specifically to Simple and SEP Roth IRAs.     

Check back later and remember, the IRS does not start accepting returns until Jan 29.