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Investors & landlords
Once again, the IRS does not say you have to Round at the individual transaction level like these TurboTax experts claim. It specifically says you "Can." Now, TurboTax should do us all a favor and fix their software so that it is most user friendly for their customers who are trying to identify any variances in their data and give us the option to not round at the transaction level. Rounding 1,000 transactions leads to large variances with what gets reported to the IRS on 1099-B statements by Brokers/Banks. It was absolutely not like this last year, so what changed? No one from TurboTax has yet to give an acceptable explanation.
‎February 17, 2021
8:14 PM