Question

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

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Employee

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

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

Employee

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

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

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.

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R u sure??

3 replies