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Retirement tax questions
The IRS requires all software programs to round the numbers before sending them to the IRS.
For taxpayer entry, the IRS offers:
Rounding Off to Whole Dollars
You can round off cents to whole dollars on your return and schedules. If you do round to whole dollars, you must round all amounts. To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3.
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.
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‎February 15, 2025
12:42 PM