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k12
New Member

How can I enter tax paid in dollars and cents, so I get the entire amount back.

my son paid tax but will get the entire amount back. Using turbotax I have to leave 26cents on the table. I cannot override. Why should I get less back than he paid. I'ts the principal not the amount

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6 Replies

How can I enter tax paid in dollars and cents, so I get the entire amount back.

Everything is rounded.  Can you give him the 26 cents out of your pocket?
rjs
Level 15
Level 15

How can I enter tax paid in dollars and cents, so I get the entire amount back.

The IRS prefers that all amounts on tax returns be rounded to whole dollars. All tax software does that. You actually can enter the cents in TurboTax when you enter the amounts from the W-2, but the result on the tax return will be rounded. There is no way to avoid the rounding.

k12
New Member

How can I enter tax paid in dollars and cents, so I get the entire amount back.

But  the IRS does not require rounding. Its optional.

How can I enter tax paid in dollars and cents, so I get the entire amount back.

It does for e-filed tax returns.   Rounding is a requirement.    If don't want to round then print blank forms and manually fill out and mail.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
rjs
Level 15
Level 15

How can I enter tax paid in dollars and cents, so I get the entire amount back.

I didn't say the IRS requires it. I said they prefer it. But all tax software rounds to whole dollars. As macuser_22 and Critter#2 said, the only way to avoid rounding is to not use software to prepare the tax return.

How can I enter tax paid in dollars and cents, so I get the entire amount back.

If you want the 26 cents then you will need to file a paper return where you can put in the exact amount. 

https://www.irs.gov/forms-pubs/about-form-1040ez

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