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This is definitely something that TT needs to address. It certainly did not do this last year, or any previous year that I could find. There is a larger thread discussing this issue as well here -
Any update from the TT team on this issue. It effects both online and desktop versions of TT. This is a serious issue!
No update. I have used the TurboTax Online software for about 10 years, and this is the first year that it has this new DEFECT. I came across this at another tax preparer years ago, so I immediately switched to TurboTax and have used them since. In fact, I have been recommending TurboTax to my friends and relatives for 10 years, specifically because the stock transactions are only rounded after summing, so the the 1099-B totals match what has been sent to IRS.
In the past, I had read that if your 1099-B totals did not match your Schedule D totals (within the dollar rounding), you were supposed to attach an explanation to your tax return showing why the numbers do not match. I do not believe that the IRS will accept a $25 difference due to rounding (number from the year I switched to TurboTax).
If it shows $25 extra, I do not want to pay tax on $25 that I did not make. If it is short $25, the IRS can later come back and ask for the tax on $25, plus interest and penalties.
Sure would be nice to hear from the TT team on this. The silence is deafening.
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