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I believe there is an error in Turbo Tax for 2019 tax year in the W2 and W2-G worksheet. Can you fix asap?

Forum|Forum|7 years ago
June 1, 2019
5 replies
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See IRS Box 12 codes guidance page 29 in https://www.irs.gov/pub/irs-pdf/iw2w3.pdf. The TurboTax W2 summary worksheet codes for box 12 do not match the IRS codes.

Turbotax W2 worksheet Box 12 Codes d and e for 457, but IRS has 1 457 code G on W2. Turbotax is forcing amounts from W2 12 G into worksheet 12 e and for govt 457 extra deferral over age 50 this triggers an incorrect over-deferral error and blocks e-file.

TurboTax Home & Biz Windows

Best answer by TaxGuyBill

It is working fine for me (see attached pictures).

Maybe you could try deleting the W-2s and re-enter them.

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TaxGuyBill

Employee

Are you entering the information on the W-2, or are you entering it directly on that worksheet? If you enter it on the W-2, it should go to the proper 401k line on that worksheet. The letters on that worksheet are NOT meant to refer to the codes on the W-2. The letters on that worksheet merely are there to input different amounts.

Also, you have that worksheet labled as "Quicken". Is that worksheet from Quicken, or is that worksheet from TurboTax?

S

SC56

Employee

I am also getting a similar error. When I run the Smart Check, the W-2 Summary tells me my deferrals (TP -$27,442) is more then the allowed $24,500. I have the correct numbers and even deleted the W-2 to see if that was the program. Don't know how to fix it.

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shahsaunil

me too . I have an over-contribution which have accounted for but the check keeps on flagging it

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TaxGuyBillAnswer

Employee

It is working fine for me (see attached pictures).

Maybe you could try deleting the W-2s and re-enter them.

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nrmeyerAuthor

You are right, the software is working properly -- there was a data entry error on my side. Thank you for the assist everyone.

DoninGA

Employee

The TurboTax W-2 box 12 uses the exact same codes as on the IRS W-2.

Code D —Elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement

See Screenshot

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nrmeyerAuthor

You didn't understand my post -- there is something wrong with the Turbo Tax worksheet and it triggers box 12 errors -- please look at the image I shared, Figure 2 is the worksheet.