Yes, Microsoft knows about this. It’s a carry over from lotus 1-2-3 which did the same thing.
Microsoft points out that correcting the error would cause problems as date numbers in existing spreadsheets would now be off by one, and other issues would arise as well. It is also noted that since dates around 1900 are rare in ordinary applications this error shows up only rarely.
I wonder if carrying the error forward to ease compatibility with 1-2-3 saved work in the long run?
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