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posted Mar 24, 2022 12:43:44 PM

Do I round off to the nearest dollar or include the cents amounts?

Do you round off when entering each interest income amount?

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1 Replies
Expert Alumni
Mar 24, 2022 1:03:45 PM

Per IRS instructions: "You may round off cents to whole dollars. If you do round to whole dollars, you must round all amounts. To round off amounts to the nearest whole dollar, 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.J