topic Rounding error in interest income in Get your taxes done using TurboTax

Rounding error in interest income

sapalmer — Mon, 03 Feb 2020 14:45:32 GMT

Re: Rounding error in interest income

JulieS — Mon, 03 Feb 2020 18:17:15 GMT

The IRS requires rounding all amounts on an income tax return to the nearest dollar. Turbo Tax does that automatically if you enter figures with dollars and cents.

Click here to learn more.

If that doesn't answer your question, you will need to add more detail.

Re: Rounding error in interest income

mswyzmo — Wed, 19 Feb 2020 13:00:04 GMT

I've found that when I use supporting details to accumulate a value for a particular item that TurboTax can introduce rounding error. Supporting details should calculate using dollars and cents and then round the total. For now, I've stopped using supporting details to aggregate amounts but use a hand calculation first to enter the value into the item.