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3 replies

Level 2
March 11, 2023

Just enter the exact dollar / cents number, and Turbotax will do the rounding.

VolvoGirl
Level 15
March 12, 2023

50 cents or more rounds up to the next dollar

49 cents and less rounds down (just drop the cents)

 

So $7.55 rounds up to $8

and $7.45 rounds down to $7

 

Why are you asking?  Just enter the exact amounts and Turbo Tax automatically rounds them.  

VolvoGirl
Level 15
March 12, 2023

ROUNDING CENTS

See IRS 1040 Instructions Page 23 bottom of last column

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

 

See IRS Publication 17 page 13 Computations

https://www.irs.gov/pub/irs-pdf/p17.pdf