IRS says "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."
That rounding applies to Schedule D, where taxes are calculated. The transactions to support Schedule D are shown on Form 8949. The values Form 8949 should include the cents, and the sums should be rounded as they are transferred to Schedule D.
That is the only way to get the 1099-B values to match the Schedule D values. My brokerage firm does NOT round individual stock transaction values as they are entered into the 1099-B form, and I question if the IRS would allow them to do that.
Please fix the TurboTax software so that the Form 8949 matches the 1099-B forms. They have matched for the past 10 years, and the current year's software is BROKEN.
I came across this problem at another tax preparer years ago, so I immediately switched to TurboTax and have used them since. In fact, I have been recommending TurboTax to my friends and relatives for 10 years, specifically because the stock transactions are only rounded after summing, so that the tax forms (Schedule D and 8949) will match what has been sent to IRS in the 1099-Bs.
