I have entered my wages and turbo tax has rounded up the amount. It's only 25 cents, but it makes me nervous

[ThomasM]

Rounding is perfectly fine.  In fact, TurboTax has to do it because IRS doesn't deal in cents, only whole dollars.  Not a problem.

[Colts013]

On my 2020 w2 if my wages is 24993.87 will turbotax round that up

[VolvoGirl]

Yes.  The IRS wants rounded amounts and no cents. Does that make a problem for you?

[Colts013]

No I was making sure when I put that 24993.87 will turbotax round up to 24994 that what it says on my view my AGI 

[Colts013]

U said turbotax will round my wages 24993.87 to 24994 right?

[DianeW777]

Yes, the wages will be rounded automatically or you can round them yourself.  You do not have to enter the cents in any field, it's your preference.

[Colts013]

R u sure??

[Mike9241]

IRS rules for rounding. 50 cents or more rounded up to the next nearest $. 49 cents or less just drop the cents.

[Colts013]

I was making sure I dont want turbotax send me something bout my federal and/or state ben rejected 

[BillM223]

We are absolutely sure that rounding is OK with the IRS. Please continue with your return.

@Colts013

[Colts013]

Just checking r u sure?

[VolvoGirl]

The IRS wants all amounts rounded.  See IRS 1040 Instructions Page 22 3rd column Rounding off to whole dollars

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

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 un- der 50 cents and increase amounts from 50 to 99 cents to the next dollar. For ex- ample, $1.39 becomes $1 and $2.50 be- comes $3.

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.

[marmil]

the IRS rule is  you CAN round off.............NOT  you MUST round off

But turbotax refuses to give the taxpayer the exact rule -- I do NOT want to round off..............i have seen where in my case it winds up costing me money more often than not..AND I cannot proof anything with my accounting records which are ACCURATE - NOT ROUNDED

this should be an OPTION- not a forced implementation - it causes more problems than it solves for many of us--amd using Home and Business edition -- we should be able to use the real numbers not this rounding baloney

[gteague]

i had a 7-cent mistake last year on pension income and the irs made me just through hoops for 3 months to get my refund. but did i learn anything? no i didn't. the pension plan is always 3-4 weeks late getting me the document so i again used my quicken figures and this year i was off by 8 cents. aha! says i, but you can round off! turns out you can, but you have to round off every figure and i had input cents to turbotax. so i check my 1040 and it looks like turbotax rounded off all the figures.

so why the fsck did i get yet another notice that my refund has been put on hold? fsck the fscking irs.