3150049
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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.
TurboTax is currently working on the issue. Please check back later after January 31, 2024.
Has there been any updates on this. Can't file!
Yes. February 7 should be updated. TurboTax Online should be able to process now but Desktop versions will be available to file on February 7, 2024.
@kman2024
Here we are February 7th and still not able to submit because of "S" in Box 12. Where is the resolve....
Still waiting. Still getting Error on Desktop (02/07 11am). Date on Error says 'check back AFTER 02/07'. Not a Roth, just SIMPLE IRA.
Have tried Updating. Have tried 'remove cents from S amount'. Have tried removing W2 & re-adding. Have restarted TT app several times. Still no fix (02/07).
I have seen notes on other posts, that TT tax files are updated on Wed/Thur nights. So, maybe it'll be fixed for Friday morning e-filing? (02/09)
TurboTax programmers are currently implementing some recent IRS changes for reporting SEP and SIMPLE plan contributions. The estimated date of release is February 7, 2024. We recommend waiting until the day after, then updating TurboTax (if using Desktop), and run Review again.
This. This is what I have going on. . . uninstalled & reinstalled 3 times including a few times with the superpatch. I have been all set, paid, and WAITING for a over a week. . . . . and now Update Error.
"I got an update this morning and thought finally I would be able to efile. I paid for efiling. When I click Transmit Returns Now, I get the following error message: "FAILED_VALIDATION. There is an update available for your version of TurboTax. Before you can file electronically, you'll need to get this update. To do this, go to the Online menu and select Check for Updates." And.... Of course, there is no update available. I just spent an hour with support. I've uninstalled and reinstalled. I've run the manual superpatch. They had me try uninstalling by deleting TurboTax folders to make sure nothing was left behind during an uninstall. Nothing worked. Finally I was told I guess I need to wait for the next update which was supposedly coming February 10. This is all very frustrating"
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