Yes, the IRS allows rounding. Per IRS Publication 17, page 13: Computations, The following information may be useful in making the return easier to complete. 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.
- If you are entering amounts that include cents, make sure to include the decimal point.
- There is no cents column on Form 1040 or 1040-SR.
- Equal amounts. If you are asked to enter the smaller or larger of two equal amounts, enter that amount.
- Negative amounts. If you file a paper return and you need to enter a negative amount, put the amount in parentheses rather than using a minus sign.
- To combine positive and negative amounts, add all the positive amounts together and then subtract the negative amounts
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