W-2 Form with Simple IRA is not working

Forum|Forum|2 years ago
January 20, 2024
3 replies
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After the last update (about 1/16/24) of TT Premier, my wife's W-2 has a simple IRA, which I click "S" for a description. This "S" box now appears in pink and the form is showing as incomplete. Prior to the last update it worked as it usually did. Anyone know why this is?

pecbridgett

Level 2

After I paid to E-file my federal return it states that they are updating how there SEP and Simple IRA contributions are reported based on the new guidance from IRS. So now I have to wait and see. I just wonder how long its going to take before I can E-file or if I need to just mail it in.

SteamTrain

Level 15

Mail-filing could take months to get processed....just wait a couple weeks and try again

....even e-filing the end of Feb could be faster than mailing in.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

jgdemerittAuthor

Level 4

I've seen some posts about doing something with box 11 to see if TT will take the "s" designation but it hasn't worked for me. I searched for typical mistakes on entering W-2's and saw something on the Internal Revenue website saying a common mistake is to use "s" for a simple 401(k) and the correct code for a simple 401(k) is code "d". I entered the "d" and the W-2 worked fine. So, this is probably not a "fix" but it does make it so you can file the return. My wife's w-2 does indicate "s" on it, so this would be done just to get past whatever is wrong with TT and/or the government approving the forms.

SteamTrain

Level 15

@jgdemeritt

Deleted...I'm not sure what I'm talking about in this situation, and need to defer to others.

But I do think you need to NOT recode things on your own......if a recoding is appropriate...the EMPLOYER needs to issue a corrected form.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

jgdemerittAuthor

Level 4

Yes, clearly you are correct and hopefully this gets fixed in TT. I wonder how or if Internal Revenue would detect the mistake though.

jgdemerittAuthor

Level 4

I checked yesterday and this is still not fixed. There was a message from someone that this is a known issue that "would be fixed after 2/2/24", though when is unknown. The problem was Internal Revenue not accepting that box on the TT form even if it is on a W-2. I guess we just have to keep checking, I can't find this issue on the TT website with know form issues though.

CatinaT1

Level 15

If I remove the cents in the box on the 'Check this Entry' screen, you will remove the error message. Once you do this, you will be able to e-file successfully.

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