It depends. There are several ways to report this and IsabellaG has written a very comprehensive article on this subject in her Turbo Tax post.
Isabella suggest that you report 50% of the proceeds and 50% of the cost basis on your own return to report your share of the gain. Then your ex can do the same on their return. If the IRS contacts you about this, since the 1099 was issued in your name, you can explain that his sale was reported correctly.
She does suggest that you issue a 1099 S to your spouse to avoid any communication from the IRS questioning why only 1/2 of the1099 was reported. Please read the post thoroughly as it explains how to order and complete form 1099 S.
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