Joint Accounts

Forum|Forum|4 years ago
February 26, 2022
1 reply
5 views

I have a joint account with siblings. I see in Turbo Tax how to split the ordinary dividends and qualified dividends by using the Nominee feature and putting in an adjustment, however, I do not see a way of handling the joint account for capital gains. The full gain/loss calculated from the joint account versus just my portion carried over on to my 1040. Other than manually going into the form and correcting, is there another way to designate capital gains adjusted for a joint account?

ErnieS0

Level 15

You can make nominee adjustments in TurboTax CD/Download.

After entering your transactions, you will see Select any less common adjustments that apply.
Select Some (or all) of the proceeds from this sale do not belong to me.
Enter the Adjustment to gain or loss (leave blank if this belongs entirely to someone else)

To move from online to desktop: How do I switch from TurboTax Online to TurboTax CD/Download?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"