Items reported with codes BB and EE in box 12 of your W-2 are Roth contributions to the 403(b) and 457(b), respectively, and do not reduce the amount that your employer reports in box 1 of your W-2.
Item reported with codes E and G in box 12 of your W-2 are elective deferrals to the 401(k) and 457(b), respectively, and are pre-tax, not post tax, because your employer excludes these amounts from the amount in box 1 of your W-2.
TurboTax presently has a bug that flags maximized 457(b) contributions combined with maximized contributions to another type of qualified retirement plan such as a 403(b) as excess contributions because they exceed $18,500 when, in fact, the permissible total is $37,000. To e-file you'll need to wait for the TurboTax developers to fix this, otherwise you'll need to file by mail. There might be a fix in the April 5 update.
How did you do that? A 403b, at least, should not legally accept extra payments. Only payments made via payroll deduction.
If your plan allows after tax deductions, that sounds like a Roth account. There’s nothing wrong with that. It means you pay tax on the money going in instead of when you take it out.
I was able to place $18500 post-tax dollars into a 403b and another $18500 post tax into a 457b. I thought that it would be okay because I was allowed to do it through my employer retirement set up but when I am filing my taxes on turbotax it says I will be penalized
Items reported with codes BB and EE in box 12 of your W-2 are Roth contributions to the 403(b) and 457(b), respectively, and do not reduce the amount that your employer reports in box 1 of your W-2.
Item reported with codes E and G in box 12 of your W-2 are elective deferrals to the 401(k) and 457(b), respectively, and are pre-tax, not post tax, because your employer excludes these amounts from the amount in box 1 of your W-2.
TurboTax presently has a bug that flags maximized 457(b) contributions combined with maximized contributions to another type of qualified retirement plan such as a 403(b) as excess contributions because they exceed $18,500 when, in fact, the permissible total is $37,000. To e-file you'll need to wait for the TurboTax developers to fix this, otherwise you'll need to file by mail. There might be a fix in the April 5 update.
I have the same issue and the program won't allow me to select the option to file by mail. Is there a way to force it to print and allow filing by mail?
I am having this same issue as well. Should I request an extension?
Looks like they fixed it because TurboTax allowed me to e-file.
I am using TurboTax Deluxe, but my last update is 4/3/2019. Are you using the online version?
I just tried and still get the following message that won't let me e-file - Forms w-2 & w-2g Summary: Gov 457 deferrals - Tp $37000 is more than the allowed $245000 for a government 457(b) plan. Please check your entries on your W2 for government 457(b) plans. However, $37,000 is the maximum per IRS.
Thank you. I am using the PC installed version, which fails due to the above item. TurboTax - is the fix to be available soon?
I'm having the same problem on up to date TurboTax on a Mac. It won't let me e-file. TurboTax, we need a fix, please.
I am stuck with the online version. Wasn't the bug fixed on 4/5/19?
The bug has not yet been fixed, at least not on the Mac version. TurboTax, what do we do, demand our money back for TurboTax and the state e-file charge? This is ridiculous. Nine days until the deadline and nothing.
The special catch-ups are still a problem. The original question involved only regular contributions and regular catch-ups, and those are now handled properly. Given the nearness of the regular filing deadline and Intuit typically freezing the software within 2 weeks of the filing deadline, my suggestions are to request a filing extension or to print and mail.
This problem is also impacting my NYS return, since I am unable to e-file my state until I file my federal 1st. Now what do I do because TurboTax says I have to e-file my NYS return?
I have the disc version and the bug is still not fixed. Please inform users the ETA of the fix.
You need to call TurboTax. This question is just going out to other users. You will get a better response if you call directly.
Regular catch-ups (as well as special catch-ups) of $6,000 (limit of $24,500) are still broken.
Regular catch-ups (as well as special catch-ups) of $6,000 (limit of $24,500) are still broken.
The IRS clearly states that 457 (b) plans (code G) allow for a 3 year catch up contribution of up to $37,000 for people who have reached plan retirement age as I have. As of today (Monday, April 8), I am being flagged by TurboTax that I exceed the $24,500 limit AND WON'T ALLOW ME TO FILE ONLINE! PLease fix this. I ran the update available as of 4/7/2019. I paid for everything requested, including Audit protection.
I'm having the same problem....When can we expect a fix?