We live in MD and I am completing our return. I am being asked how much of our cap gain income and fed exempt investment income is attributable to each spouse. The accounts are held jointly. If I allocate all to one person, we get a $7 deduction. If I allocate it 50/50, we get a $1200 deduction so this is material.
Yes, you can allocate a joint account 50%-50% between spouses for your Maryland tax return.
Yes because you both jointly own the income. Filing status will be a factor. More information can be found at the link below for your specific situation.