Does It Matter That My Tax Software Rounds Off ?

The IRS permits rounding off cents to whole dollars on Form 8949. If you round off, you must round off all amounts.

Your tax preparation software may not give you the choice, and may automatically round off everywhere on your tax return.

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If you have many trades to report, it's possible that your totals could be off by a few dollars because of rounding. The discrepancy should be very small, though, and is not a red flag to the IRS.

When rounding, amounts under 50 cents round down. Amounts 50 cents and over round up to the next dollar.

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