I am a US citizen and we will be filing married, jointly. Her brokerage is giving her a 1040-S and refuses to issue a 1099 even though she became a permanent resident during the middle of last year. Her employer is only reporting her income after she became a resident and we intend to report her investment income starting on that date too. I don't believe her 125 days as a permanent resident meets the 183 day threshold required for the entire year tax liability. We can agree to disagree. We intend to follow this advice for reporting investments: "To report interest/dividends as a resident alien without a 1099, you must manually calculate the amounts from bank/brokerage statements for the period after you became a resident, report them on Schedule B (Form 1040) if over $1,500 total, and use Form 1040 for your U.S. return, understanding that you report all income from the date you became a U.S. resident for tax purposes."
My original question was how do we report capital gains and interest and dividend income only earned after the date she got her Green Card and became liable for US income taxes? My initial approach, since the brokerage refuses to give us a 1099 from August to December, is to take a corresponding percentage of interest, dividends and capital gains from the year end statement and input them into TurboTax. Or, if the numbers for the entire year are very low, just use what's on the statement. What do you think? Thanks.
