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lxl
Level 2

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

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

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5 Replies

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

It’s just a rounding error. Drop the 50 cents from one of the values. 

lxl
Level 2

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

Is that.. legal?

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

It will not affect your tax liability so it’s fine. 

lxl
Level 2

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

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.

lxl
Level 2

W-2 Box 12 - Elective Deferrals (D) total $19500, but TurboTax says $19501

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.

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