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I can't add the exact interest amount for my 1098-E's. The form keeps rounding my numbers. Is this ok?

 
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1 Reply
Patrice
New Member

I can't add the exact interest amount for my 1098-E's. The form keeps rounding my numbers. Is this ok?

Yes, this is okay. 

The IRS allows you to round to the whole dollar amount.

Rounding off dollars.    You can round off cents to whole dollars on your return and schedules. If you do round to whole dollars, you must round all amounts. To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3.

If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round off only the total.  

http://www.irs.gov/instructions/i1042s/ch02.html#d0e2591
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