- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
joint tenant brokerage account, who gets to file the 1099?
We (my son and I) got assigned assets thru probate, so a joint account was opened up, with me as the primary account holder. As such, my understanding is that the brokerage account would notify the IRS of taxes, using my social security number. In the past, I filed the taxes on the 1099-x statements, but now that the kid is of adult age with a job, I wanted him to file the taxes, since the assets really belongs to him and not me, from a intent standpoint, all legal issues aside. Can I pick and choose who gets to file the 1099-x, i.e. can he be the one filing the 1099-x statements instead of me? Just wondering if this will cause a problem with the IRS.
Topics:
‎February 14, 2022
11:15 AM