CRA Income Tax Question

[bbarberayr]

Not an important question, but hoping someone can help here as can't find an answer anywhere else.

 

When filing income taxes, is it really necessary to input all of the costs of buying and selling stocks in the full decimal version or is it OK just to round to the nearest dollar?

 

For example, if I buy a stock for $10,000 + $9.99 commission, is it OK just to put $10,010 on my taxes instead or $10,009.99?  Would save a bunch of typing and not be meaningful in the overall tax paid, but don't want to set my self up for the pain of a CRA audit.

 

Has anyone done this and what were the results?

 

Thanks.

[hillfronter83]

Not an important question, but hoping someone can help here as can't find an answer anywhere else.

 

When filing income taxes, is it really necessary to input all of the costs of buying and selling stocks in the full decimal version or is it OK just to round to the nearest dollar?

 

For example, if I buy a stock for $10,000 + $9.99 commission, is it OK just to put $10,010 on my taxes instead or $10,009.99?  Would save a bunch of typing and not be meaningful in the overall tax paid, but don't want to set my self up for the pain of a CRA audit.

 

Has anyone done this and what were the results?

 

Thanks.

 

This is ok and I have done it myself.

[bookie71]

You are allowed to round.  The tax programs that most CPA firms use don't allow pennies. This is U. S. I have no idea about other countries.