I have put income with decimals yet all turbotax documents came out without any decimals. Why?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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TurboTax Deluxe Online

Anonymous

The IRS requires that numbers are rounded to the nearest dollar.

.51 cents or more, round up. IRS generally just chops off the change off the end, they don't round.

Turbo tax will do the rounding for you.

fanfare

Level 15

Odd that IRS would recommend the taxpayer to round amounts, but then not round itself.

You are not required to round; but if your software is rounding, not much you can do about it.
TurboTax has rounding bugs, by the way, in the health care section and possibly elsewhere.

fanfare

Level 15

Please see IRS Pub 17 Computations on page 13. I think this also addresses the issue with 1095A.
" Rounding off 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."