Recovery Rebate

[Panthers]

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?

[Just-Lisa-Now-]

Why are you doing the calculation?

IRS tacks change onto the end of phase out advance amounts.

[itonewbie]

@PanthersWhy do you think anything should be rounded up or down?

[IRonMaN]

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?

[Just-Lisa-Now-]

Online calculator for the second EIP says that $390 is correct for AGI of 79,200 for a single person.