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1099-Q boxes 1, 2, and 3 don't add up when rounded
Hi,
On my daughter's 1099-Q, TurboTax gives me an error that boxes 1, 2, and 3 need to add up. Unfortunately... the reason they aren't adding up is because TT is rounding them to the nearest dollar. For example, say box one is 389.36, box 2 is 271.77, and box 3 is 117.59. They obviously add up-- 271.77+117.59 = 389.36.
Except that TT is rounding them to 389, 272, and 118... so now they don't add up.
Which one should I round down-- the earnings (box 2) or basis (box 3)? I figured rounding down box 3 would be less impactful and let me get by the screen...
‎January 29, 2022
10:26 AM