Imported 1099Bs are getting assigned the wrong person’s SSN on our joint return. How do I override this? Taxpayer, spouse, joint options are not available.

Forum|Forum|2 years ago
March 1, 2024
4 replies
50 views

I've imported the financial data from several institutions. For some reason, TurboTax thinks that the accounts belongs to the "taxpayer". For 1099-INT and 1099-DIV forms, I can override that by selecting "joint" or "spouse" on the form where applicable. How do you set "joint" or "spouse" on the imported 1099B data?

TurboTax Online

Mike9241

Level 15

on a joint return, it's not going to matter because the SSN associated with the a/c is not reported to the IRS by Turbotax. By default the first taxpayer listed on the return is listed on forms 8949 and Schedule D.

Mike9241

sandy4042

Level 6

This is what I noticed for investment income. I am prompted for who owns the account when entering the data in Turbotax (taxpayer, spouse, joint). But the resulting Schedule B and Schedule D only has the taxpayer's ssn at the top of the page. So I gather there is no automatic flagging by the IRS if the SSNs for the 1099-int, div and B's don't match the tax forms?

However, when the individual tax payer DOES matter (i.e., HSA and IRA accounts, only one owner) I noticed the correct SSN does show up at the top of the tax form.

AmyC

Level 15

Yes. A joint tax return shows income for both parties. The IRS knows your names and numbers and how much you have where.

You are correct that actual ownership is marked where necessary. The IRS has long required the social of the first taxpayer listed to be on the forms. Of course, this was before kids and spouses were even verified. Now with modern times, a spouse can have their own form!

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Eliut

Level 4

Be aware that any imported document can be overridden by going to the specific section. For 1099-INT or 1099-DIV go to Personal Income then select I'll choose what I work on which will show all the income sections. Go to Interest and Dividends and select the update button right to them. It will show the list of all 1099-INT or 1099-DIV depending on which option was selected. Once you select the one that needs to be fixed, under the section named "This interest belongs to..." select between the options: you, your spouse, or both.