Yep, the "Nominee code N" indicates that the account is jointly owned (other than with your spouse) and that amounts attributed to the owner by the 1099 form must be allocated to the co-owners. And this would require 1099s to be issued to each of them as well as recipients of the money. You then add/subtract the amount that is distributed/gained to/from others.
Basically, it's a hornets nest and probably raises your score on the audit meter if you don't allocate any money out of your Nominee-tagged income...
