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How do I keep the advance child tax credit payments from rounding up? It throws off the final total off by $1 since my spouse and I have amounts ending with 50 cents.

Our 6419 letter from the IRS has amounts for both of us ending with 50 cents.  In turbotax when I enter then and click continue, it rounds both up, so now the total is over by $1. I can't certify that the amount listed is the correct amount.
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3 Replies
Vanessa A
Expert Alumni

How do I keep the advance child tax credit payments from rounding up? It throws off the final total off by $1 since my spouse and I have amounts ending with 50 cents.

You can't.  The IRS prefers numbers to be rounded.  The TurboTax program automatically rounds entries.  There is nothing you can do to change it.  The $1 will not affect anything negatively as it is accurate with rounding. 

 

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How do I keep the advance child tax credit payments from rounding up? It throws off the final total off by $1 since my spouse and I have amounts ending with 50 cents.

On other pages, that is the case. However, the page does not have an accurate number. I've changed the dollar amount but the decimal is actual. 

 

6419 Letter for me : $100.50

6419 Letter for spouse: $200.50

Total for both 6419 letters equal 301.00

 

On the turbo tax screen, it asks for my letter and my spouse's letter.

TurboTax - My letter : $100.50 - rounds up to $101.00

TurboTax - Spouse letter : $200.50 - rounds up to $201.00

Turbo Tax then totals it to $302.00 on the next page. $1 off. 

 

Further Schedule 8812 Part I-B 14 f says "Enter the aggregate amount of advance child tax credit payments you (and your spouse if filing jointly) received for 2021. See your Letter(s) 6419 for the amounts to include on this line. If you are missing Letter 6419, see the instructions before entering an amount on this line. If you didn’t receive any advance child tax credit payments for 2021"

 

The aggregate amount would be $301, however TurboTax is calculating it as $302. TurboTax rounds up twice, which makes the aggregate amount on the line 14f incorrect. Further TurboTax is asking me to verify that the amount is correct before I can proceed, but the total amount is incorrect. 

 

DMarkM1
Expert Alumni

How do I keep the advance child tax credit payments from rounding up? It throws off the final total off by $1 since my spouse and I have amounts ending with 50 cents.

Make the entries $101 and $200 or $201 and $100.  As long as the total on the joint return is $301 your return will be calculated correctly. 

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