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Retirement tax questions
The problem I have with TurboTax experts pointing out that the IRS says you "CAN" round is...why would TurboTax software need to round? We are not doing with this pen and paper. The IRS does not require it at the individual transaction level. We pay for expensive TurboTax Software because we want speed and precision. Turbotax thanks us by producing returns that have large variances with what the Brokerage sends the IRS on a 1099-B. Rounding each transaction if you have 1,000 transactions is going to give you a more than comfortable variance and raise questions about the quality of imported data because it does not tie out. It was not like this last year.
‎February 18, 2021
11:03 PM
4,486 Views