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freddy01210

Question

Im filing my taxes and its asking for my to enter the code in box 12, yet my w-2 form says "See instructions for box 12" i read the instructions can someone help me?

Forum|Forum|2 years ago
January 28, 2024
6 replies
0 views

i dont understand the instructions it does not look familiar

TurboTax Free Edition Online

ee-ea

Employee

A TurboTax employee posted this:

. On January 8, 2024 (i.e., about two weeks ago) the IRS released a notice describing many changes required to implement the Secure Act 2.0 - I believe that this is what "We're updating how SEP and simple plan contributions are reported on the tax return based on new guidance from the IRS." is referring to.

Indeed, Section 601 of the Secure Act 2.0 refers specifically to Simple and SEP Roth IRAs. Code S in box 12 refers to how to handle a SIMPLE plan.

These last minute IRS (and law) changes inescapably cause delays on the part of TurboTax and other tax processors.

It will take time for TurboTax to understand all the ramifications of this IRS Notice and then code and test the changes. The IRS is not open for filing until January 29th so you have some time to wait.

Mkrf18

Any update?

BillM223

Where in TurboTax are you being asked to enter a code from box 12? In general, you should enter the information from your W-2 as is into TurboTax.

Or are you having some other issue?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Mkrf18

Hello,

I am having this same issue, but it is now the 30th. Do you know what the problem is?

Thank you!

DawnC

Employee

Here are the instructions for Box 12 for TurboTax. How Do I Fill out Box 12?

The W-2 you got from your employer will have four lines for box 12—labeled 12a, 12b, 12c, and 12d.

Any amount on a box 12 line will also have an uppercase (capital) letter code associated with it. (If there aren’t any capital letter codes in box 12, skip it and move on to box 13.)

In each box 12 line, select the capital letter code from the dropdown and enter the corresponding amount.

Important: Don't confuse the lowercase box 12 letter (for example, the a in box 12a) with the capital letters in the dropdown. So, if your box 12a has the letter code D in it, select D (not A) from the dropdown. And if 12a is blank, leave it blank—don't select A.

To enter multiple box 12 amounts, select +Add another box 12 item.

Example

In this fictitious (and somewhat unrealistic) example, the W-2 shows these box 12 amounts:

$5,000 in box 12a with code D
$5,000 in box 12b with code DD
$5,000 in box 12c with code W
Box 12d is blank

Here's what the entries would look like in TurboTax Online:

Box 12_TTO_US_121322.png

@Mkrf18

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Mkrf18

My question is in regards to why I'm unable to file because of the changes by the IRS. A previous response to the original question was made by another employee. That is what I'm encountering.

mirene

Still getting this message to wait until February 7th. Any news as to when this issue will be solved??

Cass5000

My turbo tax asks me to fill out box 12. I fill out box 12, it then asks me how much of my contribution went to a Simple IRA, I put the total amount. The system is glitching saying” Box 12 code S— should not be greater than the value is box 12 with code S for this W-2”

they’re literally the exact same number. All of my contribution went to a simple ira

VolvoGirl

Employee

There is a glitch. Leave off the cents.

Cass5000

Thank you so much!

bethschoenherz

Any update now that it's the end of February? Still not able to e-file due to the box 12 updates

DoninGA

Employee

@bethschoenherz wrote:

Any update now that it's the end of February? Still not able to e-file due to the box 12 updates

If you have a code of S for box 12 then remove the cents from the amount entered. This has helped many users remove the error message and then are able to e-file their tax return.