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Level 1
June 6, 2019
Solved

Filing 1099q form

Basis + Earnings = the Gross Distribution on paper but on turbo tax it wont let me continue on. If I don't include the cent amount in each of the numbers it allows me to continue. Do I need to still include the cent amounts for tax purposes or no?
Answer
June 6, 2019
No. You are allowed to round up and round down as needed when entering amounts. $.49 cents and down -  round down; $.50 cents and above - round up. For example, if the amount states $456.78 round to $466.00. If an amount states $566.34 round down to $566.00. 

1 reply

Answer
June 6, 2019
No. You are allowed to round up and round down as needed when entering amounts. $.49 cents and down -  round down; $.50 cents and above - round up. For example, if the amount states $456.78 round to $466.00. If an amount states $566.34 round down to $566.00.