Rounding error in interest income

sapalmer · ‎February 3, 2020

JulieS · ‎February 3, 2020

The IRS requires rounding all amounts on an income tax return to the nearest dollar. Turbo Tax does that automatically if you enter figures with dollars and cents.

Click here to learn more.

If that doesn't answer your question, you will need to add more detail.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

mswyzmo · ‎February 19, 2020

I've found that when I use supporting details to accumulate a value for a particular item that TurboTax can introduce rounding error. Supporting details should calculate using dollars and cents and then round the total. For now, I've stopped using supporting details to aggregate amounts but use a hand calculation first to enter the value into the item.