How do you submit Dividends on a 1099-DIV account if it is a joint account and we are not married (filling separately)?

rcusic12 — Sat, 01 Jun 2019 06:49:11 GMT

We are engaged, but not married yet. How do I deal with a joint account that involves a 1099-DIV form?

Due to it being a joint account it can be allocated to ea...

MichaelL1 — Sat, 01 Jun 2019 06:49:11 GMT

Due to it being a joint account it can be allocated to each of you to report. The allocation can be 50-50 or any combination. Can be based on income levels or who put most of the money into the account, so 100% could be on one return.

There should be a primary SSN that the 1099DIV is associated with, and IRS will match that with whoever's SSN it is. So whose ever return it goes on, or does not go on, make sure 100% is reported to IRS between the two returns. Also due to IRS matching this document, you may get a letter a year or two and may to explain to them, how it was reported.

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How do you submit Dividends on a 1099-DIV account if it is a joint account and we are not married (filling separately)?

Due to it being a joint account it can be allocated to ea...