@DJG wrote:
That said, I really wouldn't worry about it. I *strongly* suspect it makes no difference w/the IRS whether you can point to an official reply from TT or not. Even if the IRS is not ok with TT's use of transaction-level rounding (and presumably they are ok with it, because it's hard to imagine TT wouldn't take on that liability unless they were confident), it's extremely hard to believe that they would actually penalize anyone for submitting a return prepared as calculated by TT. I gotta believe the very worst-case scenario is they'd just adjust your capital gain w/o penalty. And even that seems pretty unlikely.
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NOTE: I'm not a tax expert, and everything above is just my own opinion/understanding. Good luck finishing your taxes, everyone!
Yeah, this is the problem though - TurboTax isn't taking on any liability - not really - you are responsible for your tax return, not TurboTax and so pointing to even an official statement from Intuit might not help your case if the IRS decides to do a deeper dive on your taxes
I'm also not a tax expert but rely on the TurboTax to bridge the gap and reduce all possible risks as they are supposed to be the tax preparation experts.
Making their software less precise (and dumber) opens those risk...I don't think we will get them to change anything, I just think its utterly ridiculous that they made the un-necessary change in the first place
