When entering figures onto Illinois tax forms, should I round to the nearest dollar?
Answer #461 -- ( Published 01/30/2006 02:55 PM | Updated 07/12/2017 10:40 AM )
When entering figures onto Illinois tax forms, should I round to the nearest dollar, or must the specific amount be entered (dollars and cents)?
Refer to the form and instructions of the return or schedule you are filing to determine whether rounding is required. Where applicable, to round you must
- drop amounts under 50 cents and
- increase amounts of 50 to 99 cents to the next dollar.
For example, $1.49 becomes $1 and $2.50 becomes $3. If you need to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round only the total.
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