VS Code: “Breakpoint ignored because generated code not found” error

Setting "outFiles" : ["${workspaceRoot}/compiled/**/*.js"] solved the issue for me.

"outFiles" value should match one set in tsconfig.json for outDir and mapRoot which is ${workspaceRoot} in your case, so try "outFiles": "${workspaceRoot}/**/*.js"

Here are my tsconfig.json

{
    "compilerOptions": {
        "module": "commonjs",
        "noImplicitAny": true,
        "removeComments": true,
        "preserveConstEnums": true,
        "sourceMap": true,
        "target": "es6",
        "outFiles": ["${workspaceRoot}/compiled/**/*.js"],
        "mapRoot": "compiled"
    },
    "include": [
        "app/**/*",
        "typings/index.d.ts"
    ],
    "exclude": [
        "node_modules",
        "**/*.spec.ts"
    ]
}

and launch.json

{
    "version": "0.2.0",
    "configurations": [
        {
            "type": "node",
            "request": "launch",
            "name": "Launch Program",
            "program": "${workspaceRoot}/compiled/app.js",
            "cwd": "${workspaceRoot}",
            "outDir": "${workspaceRoot}/compiled",
            "sourceMaps": true
        }
    ]
}

Here is small project, where you may see all parameters set https://github.com/v-andrew/ts-template