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1040 Sch B - Fidelity Rounding - 1099 DIV vs Schedule B in TurboTax

Hello- I had a basic 1099 upload question re: accuracy of uploaded data please:

 

I downloaded a 1099 DIV from Fidelity directly into TurboTax - the amount on the 1099 and amount listed on 1040B are off by 1 penny.   Yes - totally immaterial, but just wanted a double check please - Example -1099 DIV = 100.02 but the TurboTax amount showing is 100.01.  The total sum of the 1040B dividend section properly rounds to page 1 of the 1040 though

 

Do I leave it alone as it was uploaded? or do I go in and edit the penny to match the paper copy of the 1099 I can see from Fidelity? My inclination is to just leave it alone as its immaterial - thanks for any help and double checking me !

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1 Best answer

Accepted Solutions
MelindaS1
Employee Tax Expert

1040 Sch B - Fidelity Rounding - 1099 DIV vs Schedule B in TurboTax

The cents will not be visible on the final tax return; the IRS requires numbers input on tax forms to be rounded up or down to the nearest whole dollar, and the software takes care of all of that rounding automatically. Unless this somehow creates a rounding difference, it is 100% not worth worrying about. 

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1 Reply
MelindaS1
Employee Tax Expert

1040 Sch B - Fidelity Rounding - 1099 DIV vs Schedule B in TurboTax

The cents will not be visible on the final tax return; the IRS requires numbers input on tax forms to be rounded up or down to the nearest whole dollar, and the software takes care of all of that rounding automatically. Unless this somehow creates a rounding difference, it is 100% not worth worrying about. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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