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New Member
posted Feb 6, 2022 2:18:01 PM

When entering dollar amounts on a W-2 or 1099, do I put the exact amount with dollars and cents? or round up or down to nearest whole dollar?

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4 Replies
Level 3
Feb 6, 2022 2:22:55 PM

Enter the exact amount.  TT will do the rounding correctly.

New Member
Feb 6, 2022 2:29:36 PM

Thank you for the quick reply.   I have already entered multiple 1099s and W-2s and properly rounded up and down to the nearest whole dollar.  Would I need to go back and adjust all number to exact numbers, or just leave them as is?  And then in the future I will just enter the exact numbers and let TurboTax round for me.

 

Level 15
Feb 6, 2022 8:18:32 PM

 

looking at my own IRS transcript I noticed that IRS always rounds down.

Level 15
Feb 6, 2022 8:21:50 PM

Either way.  If you enter  the exact amount then Turbo Tax will round them.