I received two W-2s this year. The first W-2 has box 12 filled with code D and amount 5687.50. The second W-2 has box 12 filled with code D and amount 13812.50.
When I click "Done with income", TurboTax prompts me to check my retirement contributions and tells me I contributed $19501 to retirement plan(s). It tells me my overpayment amount is $1.
If my calculator is correct, 5687.50 + 13812.50 = 19500. I've double checked the numbers multiple times. Everything was imported correctly and the values match the physical W-2.
What's going on and how do I fix this?
Thanks
You'll need to sign in or create an account to connect with an expert.
It’s just a rounding error. Drop the 50 cents from one of the values.
Is that.. legal?
It will not affect your tax liability so it’s fine.
Okay, I dropped .50 from one of them and it's coming out correct now. It would be nice if TurboTax fixed that, I realize it doesn't affect what I owe, but it doesn't feel right having to fudge the numbers to appease the software. I'd rather report exactly what's printed on my W-2.
Thanks for your help.
I received an email asking me if this solved my problem and to mark an answer as accepted. This avoids the problem but doesn't fix the root cause which is actually a bug. The solution is for TurboTax to fix the bug.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Tax_right
Returning Member
mr_wq
New Member
JamesInGA
Level 3
flcastro-x
New Member
turbotax4
New Member