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Old 02-16-2019, 08:44 AM
 
Location: God's Country
4,933 posts, read 3,245,211 times
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Decided to file taxes online. First, I used the hard copy forms, planning to transcribe the data to the online forms. I've always used the odd cents rather than rounding to whole dollars. So I do all the calculations not rounding, only to learn that online REQUIRES rounding. I know that IRS prefers rounding but would accept the alternative as they do on hard copy paper filing.


Choice: Recalculate to include rounding, or just send in paper forms as usual.
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Old 02-16-2019, 09:33 AM
 
24,833 posts, read 31,952,853 times
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If you did your return online it would round for you.
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Old 02-16-2019, 09:34 AM
 
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Immaterial.
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Old 02-16-2019, 10:42 AM
 
Location: God's Country
4,933 posts, read 3,245,211 times
Reputation: 8101
Quote:
Originally Posted by ChessieMom View Post
If you did your return online it would round for you.

But I like to do all the calculations myself and then just transcribe to online. They would not have been able to do my taxable pension for the widow(er)'s death benefit because the taxable portion in item 2a of the 1099R shows "UNKNOWN". If I had known about the rounding requirement, I would have rounded when doing the paper copy. Frankly, I still haven't found the fine print in the instructions about rounding.


At least in my State instructions, it tells you to round off when doing e-file.
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Old 02-17-2019, 08:02 AM
 
12,536 posts, read 9,564,269 times
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Quote:
Originally Posted by Calvert Hall '62 View Post
But I like to do all the calculations myself and then just transcribe to online. They would not have been able to do my taxable pension for the widow(er)'s death benefit because the taxable portion in item 2a of the 1099R shows "UNKNOWN". If I had known about the rounding requirement, I would have rounded when doing the paper copy. Frankly, I still haven't found the fine print in the instructions about rounding.


At least in my State instructions, it tells you to round off when doing e-file.
Just put in the rounded numbers to the software and let it do its thing. I have never heard of that killing anybody.
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