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Can someone help me add a nominee for income that I received, but went to someone else? I know that I've done this before, just not sure where it goes.

 
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1 Reply
CalebB
New Member

Can someone help me add a nominee for income that I received, but went to someone else? I know that I've done this before, just not sure where it goes.

Hi ithornberry - Certain types of income can be reported as belonging to you, but it actually went to someone else, but this doesn't apply to all types of income. If the type of income can be attributed to someone else, you'll see questions about it after reporting the income.

For example, if you received interest income and you need to add a nominee, follow these steps:

  1. Click Tax Tools on the left hand side, then click Tools below that.
  2. On the Tools Center popup, click Topic Search
  3. Type in "nominee", then select "nominee interest" from the list and click GO
  4. If you get the "Did you receive any interest income?" click Yes
  5. Enter the interest income as reported on form 1099-Int and continue through until you get to the "Tell us if any of these uncommon situations apply" screen (screenshot attached)
  6. Check the box next to "I need to adjust the taxable amount." and click Continue.
  7. Make the adjustment on the Report Interest Adjustment screen (screenshot attached).

A similar adjustment is available for Dividend income as well.

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