I have a joint mutual (JJTEN) fund with my boyfriend. We both contributed equally to the amount in the mutual fund. On the 1099-DIV, my SSN is listed on the account. We need to report the dividends + capital gains and would like to do this 1/2 and 1/2 to alleviate tax burden. Questions:
1. If I wanted to split the dividends/capital gains, do I need to fill out 1099-DIV (with myself as the payer and boyfriend as the recipient) + 1096 forms outside of Turbo Tax? Or is there a way to do that within Turbo Tax? If so, how do I access this within Turbo Tax?
2. As far as me submitting my information on the 1099-DIV within TurboTax, I was able to select that I needed adjustment, and then enter the amount (1/2 of the combined dividends + capital gains) in there, which then decreases my tax burden. Is this correct in addition to the above?
3. If the other person if filing their taxes via TurboTax, will they just then enter that 1099-DIV information (that I issued them + then sent to the IRS)?
