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Get your taxes done using TurboTax
I want to point out while Turbotax has a section for nominee amount it may not work correctly
example1099-DIV entered
line 1a 20000 divs
line 1b 10000 qualifying
line 2a 5000 capital gain
line 5 10000 199a
line 7 5000 FTC
line 7d 20000 foreiggn dividends
line N 10000 nominee because I wanted a 50/50 split
what I ended up with
taxable divdends 12000 rather than 10000
qualified dividends 6000 rather than 5000
capital gain dividends 3000 rather than 2500
1099a/qbi divdends form 8995 10000 instead of 5000
ftc and foreign dividends 5000 ftc rather than 2500 and 20000 foreign dividends rather than 10000
so check what's actually is appearing vs what should be
another thing the IRS actually wants you to file 1099s reporting the nominee amounts
‎October 13, 2023
10:16 PM