When Calculating The Recovery Rebate Phase Limits do round Up or Round Down? Example Single Taxpayer: Phase Out Limits $87,000.00. AGI 79,200.00. = $7,800.00 X .5 = $390.00 ?
Do I use $7800.00,$8,000.00 Rounding Up?
Now I'm worried. I received a call a couple of weeks back from an elderly widow that received $16.50 for her Recovery Rebate in December. How am I going to enter that amount in the system if the software doesn't allow decimal points?