I'm planning on filing separately but had a question about how to handle capital gains and dividends for a joint investment return. I'd prefer to have the lower earnings spouse take the dividends and capital gains since there won't be tax on it that way since his income is low enough. However, while it's a joint account, the SSN that appears on the 1099 is the higher paid spouse's SSN. Can I still have the lower paid spouse take the capital gains and dividends? I'd think so since it's a joint account and both names are on the 1099.
I also have a similar question regarding mortgage interest. If both names are on the 1098 can I choose which spouse takes the deduction (I'm itemizing) or do I have to choose the spouse whose SSN is on the form?
I live in NY which is not a community property state.
