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zyzygy7459
February 27, 2025
Question

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

  • February 27, 2025
  • 1 reply
  • 0 views

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.

 

 

1 reply

SusanY1
SusanY1
February 27, 2025

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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