For box 12 code S simple IRA contributions, it keeps telling me to review because number shouldn't be greater than box 12 from W2 but are both the same! What do I do?

[my_90crx]

The exact number from my W2 is in box 12 which is the exact amount that was contributed fully to my IRA.

[MinhT1]

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 February 7, 2024.

[aaronmg412]

This is still not fixed. Any update? @MinhT1 

[marshallwfhs]

I am having the same issue and would love to know when there is a fix. 

[kartermdb]

@MinhT1Do we have an update for this?  It is past the 2/7/2024 date mentioned and this is also holding up my taxes.

[MinhT1]

Yes, the issue has been updated in TurboTax.

Please revisit the W-2 section.

[aaronmg412]

@MinhT1 unfortunately you are wrong - this is still not fixed.

[DianeW777]

Here are some steps that may help you move forward to remove the error.  

1. Remove the cents on the screen Tell us more about your retirement contributions (this should remove the error message)
2. Also, if you remove the cents in the box on the screen  Check this Entry, the error message goes away. The same result occurs if the cents are removed on the line  Box 12 S: on the   Check this Entry screen. 
3. Finally, the error is removed when a re-type of the exact number, including the cents, in either of those places. 
   
   Round numbers can be used and it will not affect your return.  This was tested.

@aaronmg412 

@my_90crx 

[jgdemeritt]

I had this same issue with my wife's W-2.  Happy to report that the last update to TT that went through a few days ago cleared this and I can check the S box without it showing as an error.  My understanding from someone's post was that Internal Revenue had not accepted the TT form yet but they were working on it.  Should be all set now.  

[lnichols59]

I was finally able to get TurboTax to accept my return, and was able to submit it with my Simple IRA Contribution.  The IRS accepted my return immediately.  This was on 01/31/2024.  I have been checking my refund status each day to see if the IRS had processed my return, and kept getting the standard response"..... it normally takes 21 days....".   ......until TODAY!!!  Now I am getting the following message on IRS2Go:

We apologize, but your return processing has been delayed beyond the normal timeframe.  You can continue to check back here for the most up to date information regarding your refund.  We understand your tax refund is very important and we are working to process your return as quickly as possible.

Has anyone else run into this problem?