JaimeG
New Member

Get your taxes done using TurboTax

You will have to enter the information transferred fro the Brokerage firms manually in order to allocate the Gain or Loss equally in your wife's and your returns (50/50). So, unfortunately there is no easy way to do this. 

Additionally, you will not be able to include an explanation when you e-file. If you would like to include an explanation on a certain position you have taken you will have to send a Paper Return accompanied with Form 8275 in order to explain the allocation and avoid any Penalties for underreporting. 

Form 8275: https://www.irs.gov/pub/irs-access/f8275_accessible.pdf

Instructions: https://www.irs.gov/pub/irs-pdf/i8275.pdf

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