TT2021 Premium rounds up Child Tax Payments from Letter 6419 - Update NEEDED

[MassPayer]

Turbo Tax 2021 rounds up the child tax payments from letter 6419 that each parent receives.  This throws off the final number and the program wants to ensure it's right.  Example:  You stop payments after 1st payment of $333.  Each spouse gets a letter 6419 for $166.50.  You enter both parents in TT2021 at $166.50 and it round total to $334.  You should allow the final tally to be edited.  We shouldn't have to enter both parents just to double the value and have TT2021 round the value.  Needs an Update before we file since IRS has warned errors will result in delay of refunds if data is not accurate.

[Critter-3]

Ok ... lets be smarter than the program ... simple solutions are :

Just enter 333 under one spouse and 0 under the other   

OR 

Enter 166 for one spouse and 167 for the other 

How you enter the amount on this screen is not important since the form 8812 only gets the total combined between the 2 of you.  

[MassPayer]

I agree with you but how many people won't do that and cause an error in the filing thinking it's off by 1 dollar?  This arithmatic error needs to be addressed for others not to fall victim.  Smart people can get around it but that's no execuse not to notify to get it corrected.

[Critter-3]

Well the rounding is not going to ever change  ...   so the worse thing that can happen is the credit is off by $1 and nobody is going to lose sleep on that point ... I am trying to figure out how they were paid $333 when they were sending $250 or $300 per month.  

[MassPayer]

MFJ with combined income exceeding the phase out limit on 1+.  But that not really the issue here.  It's computational on an odd integer.

[Critter-3]

True ... I gave you 2 valid workarounds and I am sure I will be posting this many more times this year. 

[fanfare]

If IRS sends you  a letter showing $166.50 each, and TurboTax rounds both of them up you will be off by one dollar.

IRS is already warning that any discrepancies will delay processing of your return.

Based on your original post, you already know that.

When the total amount is odd, highly recommend you round one part down and one part up.