Question

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

Forum|Forum|4 years ago
April 8, 2022
2 replies
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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

B

Bsch4477

Employee

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

L

lxlAuthor

Is that.. legal?

B

Bsch4477

Employee

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

L

lxlAuthor

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.