Interesting, I guess that makes sense. What if people didn't split 50/50, so the fractional makes actually sense.
So to make sure I understand. If I were to sell the 3 shares of stock A as the primary holder, I could report 1.5 shares belong to my sibling using the 1096 with the IRS 1099-B and form 8949 with the proceeds and cost basis.
"Note that the number of shares is not actually entered on Form 1099-B. There's no place for it on the form."
From your reply, I just looked at the IRS website for the 1099-B form, and line 1a is asking for a Description of property example, 100 Sh. of XYZ Co. So, I think I will have to enter the total amount of shares there, the total amount of proceeds and cost basis. And then on form 8949, go through individual sales, and make sure the numbers line up correctly.
So the hypothetical example would look like:
Form 1099-B 1a) 1.5 shares of stock A
1b) date bought example I could write various for multiple purchases, or a single date
1c) date sold example I could write various for multiple purchases, or a single date
1d) Proceeds total example 9$
1e)Cost basis total example 5$
Then check out all the necessary boxes. Like short term or long term, etc
The on form 8949, I would actually write out the details of all the purchases with the information above using:
| Description of Property (1a) | Date Acquired (1b) | Date Sold (1c) | Proceeds(1d) | Cost or other basis (1e) | | | | |
| Adjustments (1f) | Amount of Adjustment(1g) | Gain or (Loss) (1h) | Short or Long |
Again, thank you for your time and help!
