I am torn on this. Allowing the user to erase an "N" code is bad in the sense that Morgan Stanley will STILL be reporting to IRS that you are the nominee of a joint account and need to re-distribute gains to other co-owners. Simply taking the N code off your tax form will not help if the IRS comes calling...
In this case, we are pursuing the best and only solution... getting Etrade (MS) to update their data feed to remove the N code where it is not appropriate.
