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Turbox tax rounding UP instead of down on 1040 line 1a?

Turbo tax rounds up on line 1040SR 1a. Why?

Two W2s - first one ends in xx1233.54 second ends in xx1238,52 which comes to xx2472,06. Turbotax rounds this to xx2473. Why? I believe it should be xx2472.

 

 

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1 Reply
SusanY1
Employee Tax Expert

Turbox tax rounding UP instead of down on 1040 line 1a?

Per the IRS rounding conventions, each entry is rounded before summation.

 

So the first figure is rounded to $xx1234 before being added to the second rounded to $xx1239, which gives you the total of $xx2473.  
 

 

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