Hello I would like to confirm my understanding for a 1099-B where I want to split capital gains/losses 50/50 with my spouse:
- TurboTax does not give me an option to enter the full amounts and do an adjustment to reduce capital gains or losses to half in my own tax return
- Consequently, I should only enter half the amounts in my own tax return (entering the full amounts would exaggerate my gains or losses)
- I should also file a 1099-B to the IRS (and provide it to my spouse) for the other half of the amounts
- My spouse will enter her half in her tax return using the 1099-B I provided her
Is my understanding correct?
Is my understanding correct?
