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Retirement tax questions
I wish someone would get this Schedule D rounding bug fixed before the filing deadline May 15.
This problem came to my attention with TTax 2020. Every year I match Proceeds and Cost totals that TTAx enters in Schedule D with the numbers Fidelity Investments reports to the IRS on 1099-B. This year TTAX is very off. The reason? TTax is rounding each individual sales transaction rather than rounding only the totals it enters into Schedule D. Example, my Schedule D, Part I, line 3. col E total is underreporting my gain by $11. I don't know what margin of error the IRS allows, but this makes me VERY nervous that my return will be flagged for audit. I'm hoping that with the number of TurboTaxers, maybe the IRS will complain to TTAX instead of penalizing us.