dgm
Level 1
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Retirement tax questions

The policy is in both me and my brothers name and we are splitting the proceeds 50/50.  But the insurance company indicated they would report the taxable portion under 1 social (me).  They indicated that I fill out some 1099 form designating him as a nominee of the proceeds.  Just need direction on this with regards to the IRS and also when doing my taxes next year.