I have a brkg acct for my child but in my SSN. I nominee her on 1040 for DIVs. What will happen when I sell stock, how do I report cap gains as nominee so I'm not taxed?

[siegelal]

To be clear, I do file 1099-DIVs to the IRS each year and "negate" the DIV income on my return as a nominee, and then she shows the DIV income on her return.  This year will be the first year that she will incur Cap Gains so will receive a 1099-B.  Can I do the same thing and report the 1099-B sale as a Nominee?  The brokerage firm initially said that to have the reporting under her SSN, we need to liquidate all of the securities and incur large cap gains.  She is not a minor. Thank you.

[Critter-3]

No you cannot nominate stock sales reported on a 1099-B... unless you switch the account to report the income under the child's SS#  you are liable.  

[Hal_Al]

Talk to the brokerage firm  about changing the account to her SSN.   There's some question as to whether it was proper to even nominee the dividends.  A brokerage account  should not have been set up that way.