topic I have a 1099-DIV form for an account that is a joint account with my son. How do I split the amounts on the form for my tax return in Retirement tax questions

I have a 1099-DIV form for an account that is a joint account with my son. How do I split the amounts on the form for my tax return

dburdige — Thu, 04 Mar 2021 01:54:50 GMT

Re: I have a 1099-DIV form for an account that is a joint account with my son. How do I split the amounts on the form for my tax return

VolvoGirl — Thu, 04 Mar 2021 01:58:49 GMT

I wrote this for interest but should work for dividends too. Whoever's ssn is on the 1099 enters the whole amount on their return. Then after you enter it, on the next page it will ask

Tell us if any of these uncommon situations Apply and pick the first one, We need to adjust the taxable amount.

Then on the next page fill in the amount as a POSITIVE number and pick the first reason "I received all or part of this for someone else".

Then on the other person's return you enter it as a 1099Div.

Re: I have a 1099-DIV form for an account that is a joint account with my son. How do I split the amounts on the form for my tax return

VolvoGirl — Thu, 04 Mar 2021 02:02:29 GMT

I checked my program. I assume you are splitting it in half? After you enter the full 1099 Div then on the next page pick the 2nd item I need to adjust these dividends and continue. Then the other person enters just their part on the 1099 Div screen.