672310
You'll need to sign in or create an account to connect with an expert.
Split it 50-50 for the Georgia exclusion since it is a joint account.
I can't see how to to this in TurboTax. I did declare that income "belongs to both of us" on all of the 1099s in Turbotax. Any tips or ideas?
If this was reported on a 1099R, you can split the 1099R into 2 1099 R's. One you can issue in your name and Social Security Number and the other in your wife's name and Social Security Number. If the IRS asks why this was done, you could say that Georgia says you must split the Georgia retirement exclusion 50/50. This is the only way you can report the 50/50 split.
Is that something I can do within TurboTax or does my financial institution need to send me 2 1099-Rs?
You can enter it into TurboTax as two separate 1099-R's with all of the dollar amounts split evenly.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Kh52
Level 2
hjh33414
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
wmstein91
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
Cindy10
Level 1
derrickbarth
Level 2