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Can I enter values rounded to the nearest dollar?

 
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3 Replies
MindyB
Expert Alumni

Can I enter values rounded to the nearest dollar?

Yes.  In fact, your 1040 will not show cents.  One exception is W-2 entry- if you want to import your W-2, enter the requested information from your W-2 with cents.

Can I enter values rounded to the nearest dollar?

The values I entered from a W2 box 1 is for example: 1524.88

The software rounds that up to the next dollar: 1525.00

But this income is Excluded due to a Medicare Waiver.

I've selected that, but it doesn't pass the the review.

It's looking for a value that is not greater than the original value.

It's seems to be using the Rounded value of 1525 which is larger than the original value of 1524.88

If I enter 1524, then it passes.

If I enter the W2 Box 1 values as 1525 instead of 1524.88 and select it as Excluded, then the software accepts it, and everything passes.

I want to be accurate. Suggestions?????

PatriciaV
Expert Alumni

Can I enter values rounded to the nearest dollar?

The IRS rounds all amounts to the nearest dollar. For this reason, it's best to enter rounded numbers for all entries in TurboTax and to be consistent. In this case, use the combination that resolves the review error, 

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