I can change these manually, but it's a lot.
The import has always worked in previous years.
@JMS23 The information provided above is missing an important detail.
The specific paragraph in the IRS instructions that is relevant to the problem that we are describing is this -
“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."
This is what TT is not doing correctly in this specific case and what needs to be fixed. TT is rounding the two numbers, proceeds and cost basis, on form 8949 PRIOR to doing the calculation. What TT should be doing, and per the IRS instructions quoted above, is to include the cents in the two numbers, proceeds and cost basis on form 8949 when doing the calculation and then round the result. That is what TT did in every year prior to this year.
Their are several threads concerning this issue. One of the largest is here-
Yes, the IRS allows rounding. Per IRS Publication 17, page 13: Computations, The following information may be useful in making the return easier to complete. Rounding off dollars;
For example, $1.39 becomes $1 and $2.50 becomes $3.
Thanks for the response!
I was hoping there was a new setting in turbotax as it is importing with the rounding without prompting.
Everythiing else that I imported was Not rounded. Only on Fidelity activity. Reconciling/review is easier
with the exact amounts when there is volume of any kind.
All of it rounds on the returns, (not schedules ) so I'm not sure why they changed it.
Thanks again for your help!
@JMS23 The information provided above is missing an important detail.
The specific paragraph in the IRS instructions that is relevant to the problem that we are describing is this -
“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."
This is what TT is not doing correctly in this specific case and what needs to be fixed. TT is rounding the two numbers, proceeds and cost basis, on form 8949 PRIOR to doing the calculation. What TT should be doing, and per the IRS instructions quoted above, is to include the cents in the two numbers, proceeds and cost basis on form 8949 when doing the calculation and then round the result. That is what TT did in every year prior to this year.
Their are several threads concerning this issue. One of the largest is here-