You round up! Cents are not shown on taxes. $26,919.59 and 26,920 are the same number.
The IRS requires this rounding to be done:
Rounding off 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.
The IRS Form 1040 doesn't force me to round or truncate values, but it is an option for which they have rules to follow.
I don't round or truncate values, thus maintaining a more accurate tax return for future reference. TurboTax generates a Form 1040 that does not retain the cents; thus lowering the accuracy of the return for future reference.
Why doesn't TurboTax allow me to retain the accuracy of the cents ? It would be easy to do, by creating a software switch (option) allowing the user to turn rounding/truncating On or Off. You maintain the accuracy of the numbers entered (include cents) and then only display results on the filled-in tax forms generated using the method selected with The On/Off switch.
If you are buying and selling funds, you wouldn't want you values rounded or truncated. You would want to maintain at least 3-4 decimal places of accuracy for recalculating your cost-basis when using averaging.
Similarly, I want to be able to generate, print and keep, accurate tax records.
TurboTax is not allowing me to do so.
This is not good !