Question

Why do child Tax credit payment amounts are rounding even though I am entering the correct amount?

Forum|Forum|4 years ago
January 11, 2022
1 reply
0 views

I have entered the advance child Tax Credit payment amount as 9.50 and Turbotax rounding as 10$. It seems like a bug in the product. I have entered an exact amount, I have received from IRS and Turbotax rounding to the nearest value.

TurboTax Premier Online

X

xmasbaby0

Employee

Did you receive your letter 6419 from the IRS yet? You are going to receive a letter from the IRS that shows what you need to enter on your tax return for the advance CTC payments. Wait for the letter and enter the information carefully.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

S

schwarta77

@xmasbaby0

I am having the same issue. My wife and I received separate letters. Total received was $1,125. My letter, in my name, is for $562.50, and my wife's letter is for $562.50. The system is rounding the values to $563 for both with a total of $1,126.00. How do I fix this?

V

Vanessa A

You cannot change it. The IRS prefers numbers rounded, therefore, TurboTax automatically rounds your entries. It will be a $1 difference, which should not affect your return. This happens on many items on a return regularly when cents are involved.

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