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Investors & landlords
@ptspringer wrote:My question is how to handle the tax reporting for Nominee distributions in Turbotax. If the 1040 program could issue a 1099-B for the recipient it would be easy (Turbotax doesn't handle this)
You are correct that the program does not support the issuance of a 1099-B. In fact, past years' editions did not support nominee distributions for capital gains.
This year, however, nominee distributions for capital gains are supported (at least in the desktop versions) and Code N can be entered on Form 8949 for that purpose.
‎April 2, 2021
11:39 AM