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Get your taxes done using TurboTax
Thank you for your answer!
Sorry, did not understand "In your situation I suggest you enter only your amount on your tax return then physically nominee the other half to your spouse."
Do you propose to file 50% of reported dividends/cap gain? Like in community state? Will IRS flag missing amount then?
"Nominee" seems an expected way. It works and produces similar resulting tax as 50% physical reduction. Instructions said: "A spouse is not required to file a nominee return to show amounts owned by the other spouse." The only issue is that there is no indication on the form that nominee is a spouse. I could put it in box for "payer", but this looks strange to me. Seems to be form design issue for IRS, not Turbotax issue.
March 13, 2023
7:27 AM