GA spouse capital gain vs taxpayer capital gain

rodashaf · ‎February 4, 2023

Spouse 1099 div capital gain reported as taxpayer capital gain on GA schedule 1 even though spouse box checked on form 1099 div in TurboTax. This results in incorrect tax for GA. Dividends from same form are properly attributed to spouse.

GeorgeM777 · ‎February 6, 2023

We need some clarification. The dividends and capital gains are two different types of income. Is it just the capital gains that are being allocated to the wrong spouse? It appears as if the dividends are being attributed to the correct spouse. However, checking the "spouse" box for the 1099-DIV, will probably not allocate the capital gains to the correct spouse as it did for the dividends.

@rodashaf

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rodashaf · ‎February 7, 2023

It's only the capital gains that are incorrectly allocated. It seems incorrect that checking the spouse box on the TurboTax form does not attribute the capital gains to the spouse. The 1099 Div is for an account that is wholly owned by the spouse and is filed with the IRS using the spouse's SSN. This is important on the GA Schedule 1 Retirement Income Exclusion section since the exclusion is calculated separately for the taxpayer and spouse. However, in the Step-by-Step view I found the opportunity to change the incorrect allocation. Thank you for the prompt response.