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January 7, 2025
Solved

Turbotax Rounding Discrepancies

  • January 7, 2025
  • 2 replies
  • 46 views

Due to the way TurboTax rounds each line, the final values do not align with my company's books with both the P&L and Balance Sheet. It's only off by $2. Is this something that I should let ride or should I make adjustments to specific lines to make it accurate?

Best answer by rjs

Expert Reviewed

Let it ride. The IRS doesn't care about small rounding errors.

 

2 replies

rjs
Level 15
rjsLevel 15Answer
Level 15
January 7, 2025

Expert Reviewed

Let it ride. The IRS doesn't care about small rounding errors.

 

January 7, 2025

Thanks, I figured that to be the case. I just get hung up when Turbo Tax prompts me with a question like 'does $x amount match your books'? I have to say yes even though *technically* it is not true.