Investors & landlords

While I think it's very unfortunate that TT seems unwilling to provide a real fix for this issue I think there may be a simpler way around this if you don't have too many transactions that are getting rounded. I went thru my 8949 and only have 19 entries that are affected.  If what TT says is true - 

 

"The rounding differences are well within the IRS built-in tolerances for rounding discrepancies."

 

Then changing the cents either in the proceeds or the cost basis that TT imports in order to make the calculated gain/loss amount come out correctly so that the totals equal the amounts reported by your broker on 1099-B should also be acceptable.

So here is what I'm going to do. I will go to the imported details for the 19 transactions where the early rounding of the proceeds/cost basis causes the total gain/loss to be wrong and I will change the cents in the imported data on either the proceeds or cost (not sure it matters which one) so that after rounding and calculation the gain/loss comes out correctly (as if the calculation had been done with the non-rounded numbers and then the total was rounded). Then my total will exactly match what my broker reports on the 1099-B.

It's unfortunate that a manual work around is needed but it is what it is. I will of course save the return exactly as TT calculated it (with the transaction level rounding and the resultant incorrect gain/loss) and also save my corrected and correct return after the manual corrections. I will use the difference between those two to file for a refund of the purchase price of TT based on the "Maximum Refund (or Tax Savings) Guarantee or Your Money Back." It's TT so of course they will try to find a way to weasel out...LOL.