Skip to main content
Level 1
June 5, 2019
Question

Is there a W-2 summary elective deferrals problem?

  • June 5, 2019
  • 1 reply
  • 4 views

W-2 Summary, box 12 elective deferral, smart check and e-file error message:  "Forms W-2 & W-2G Summary: Elective deferrals - TP $37,000, is more than the allowed $18,500 for a 401k plan. Please check your entries on your W2 for 401k plans."  I contributed $18,499 each to 401k to Roth 457, for a total less than $37,000.  What is the problem?

1 reply

Level 11
June 5, 2019

The amount in box 12 should have been split:

$18,500 code D, contributions to 401(k).

$18,499 code G, contributions to 457.