Yes, you can designate yourself as the nominee. The IRS describes the nominee process as:
- Nominees.
- If you received a Form 1099-DIV that includes ordinary dividends you received as a nominee (that is, in your name, but the ordinary dividends actually belong to someone else), report the total on line 5. Do this even if you later distributed some or all of this income to others. Under your last entry on line 5, put a subtotal of all ordinary dividends listed on line 5. Below this subtotal, enter "Nominee Distribution" and show the total ordinary dividends you received as a nominee. Subtract this amount from the subtotal and enter the result on line 6.
To accomplish this in TurboTax online, follow these steps:
- Go to Income & Expenses
- Scroll down to Interest and Dividends
- Select Dividends on 1099-DIV
- Enter your 1099-DIV information, but select that the 1099-DIV belongs to the both of you.
- On the page Tell us if any of these uncommon situations apply to you, select I need to adjust these dividends...
- Select I need to adjust these dividends
- Continue through the section and enter the requested information.
@yesimk
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
