Filing separately while joint accounts reported 1099-DIV to my ssn.
I understood the process of splitting dividends. There 2 other important values on the form to split: "qualified dividends" and "Total capital gain distributions".
For qualified dividends on line 1b could enter "Adjusted qualified dividends". Should adjust qualified dividends amount be used?
What to do with "Total capital gain distributions"? How to adjust that amount for splitting?
I am not in community state, unfortunately.
Should enter combined adjustment amount for dividends and cap gain split on that form? TurboTax allows me to enter amount exceeding the amount on the dividends line.
Thank you.
PS. After playing with numbers, TurboTax does not allow the nominee amount to be larger than sum of dividends, nondividend distribution, and capital gain distribution. I wonder if what code does is computing percent of nominee amount relative to the sum of those 3 values, and applies this percent to boxes 1-3 on 1099-DIV form. This is wild guess. Looking if use of 50% of that sum of 3 values is sufficient for proper reporting of joint account's 1099-DIV. Thank you again!
