We had a joint Vanguard account and divorced in June 2020. The account is closed in June after assets are split into individual accounts. We received a 1099-DIV in both names with my name listed first. There are dividend and capital gain in this 1099-DIV. Obviously, each of us owe tax on half of the dividend and half of the capital gain. My questions are:
1. Can TurboTax Deluxe version handle this?
2. Since the 1099 is in my name, I have to report it and then select "I need to adjust these dividends." on the next page. However, TurboTax only ask about adjustment to dividend. Does the capital gain get adjusted accordingly too by the same percentage as the dividend?
3. How does my ex husband report this 1099-DIV on his return? Exactly the same way I do it or differently?
4. This question is for another 1099-DIV. Only my name is on this form; it shows dividend and no capital gain. My ex owes a quarter of the dividend. I report what is on the form and then select "I need to adjust these dividends". The adjustment amount is the amount he owes or the amount I owe?
