You should get the investments assigned to one owner in the future. For this year, the person whose social security number is listed on them will need to report the full income on their tax return, then do an adjustment to "Other Income" as a negative amount to adjust the income down to the proper amount as follows:
1. Go to the "Federal" section of TurboTax
2. Click on "Income and Expenses"
3. Find "Less Common Income" and choose the last entry "Miscellaneous Income"
4. On the next screen, "Miscellaneous Income" choose the last entry "Other Reportable Income"
5. Enter a description for your entry (ex-spouse share of income), and enter the taxable amount you want to exclude from income as a negative number
The other taxpayer would need to enter their share of the income on their tax return.
If the two of you agree, it would be better to just have the taxpayer whose social security number appears on the 1099 form report the full amount of income. It would be less trouble and not raise as many flags with the IRS.
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