All numbers are rounded to the nearest dollar by IRS rule, but it really does not matter that much. $50,198 suggest that you are married with 2 children. If $50,197 you would get $5.00 EIC. See the EIC table.
EIC is paid on a bell curve - starts low for a low income, increases to the maximum as income increases, then phases out as income increases still further until it is gone at the maximum income. You only get the maximum EIC if your income is about midway between no income and the maximum income.
Earned Income and adjusted gross income (AGI) must each be less than:
• $47,955 ($53,505 married filing jointly) with three or more qualifying children
• $44,648 (50,198 married filing jointly) with two qualifying children
• $39,296($44,846 married filing jointly) with one qualifying child
• $14,880 ($20,430 married filing jointly) with no qualifying children
Tax Year 2016 maximum credit for MFJ: (This is the MAXIMUM - see EIC table for actual amount bases on your earned income).
• $6,269 with three or more qualifying children
• $5,572 with two qualifying children
• $3,373 with one qualifying child
• $506 with no qualifying children
Investment income must be $3,400 or less for the year.
EIC Table
https://www.irs.gov/publications/p596/ar02.html#d0e5366
You must be at least 25 if you do not have a qualifying child, and under 65 years of age at the end of 2015.
See IRS Pub 596 for complete information:
http://www.irs.gov/publications/p596/index.html
I am unaware of any IRS rule requiring rounding to near dollar. It appears to be optional.
Here is some language from Form 1040 2020 Instructions :
Rounding Off to Whole 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.
If you are entering amounts that include cents, make sure to include the decimal point. There is no cents column on the form.
It appears TurboTax software forces the whole dollar filing option. In this case it cost you $5.00.
@Pep607237 wrote:
I am unaware of any IRS rule requiring rounding to near dollar. It appears to be optional.
The rules for ERO's (Electronic Return Originator) require it. The rules you see applies to paper returns.