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Married filing jointly, brokerage accounts in one name only. Loss/gain and other activity kept separate or can it be reported jointly?

 
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KenH1
New Member

Married filing jointly, brokerage accounts in one name only. Loss/gain and other activity kept separate or can it be reported jointly?

You can file your taxes either separately or jointly, and jointly is almost always better.  Either way, when you are entering the 1099-B, select that the account is just yours.  However, this selection won't make a difference on a joint return.

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2 Replies
KenH1
New Member

Married filing jointly, brokerage accounts in one name only. Loss/gain and other activity kept separate or can it be reported jointly?

You can file your taxes either separately or jointly, and jointly is almost always better.  Either way, when you are entering the 1099-B, select that the account is just yours.  However, this selection won't make a difference on a joint return.

Married filing jointly, brokerage accounts in one name only. Loss/gain and other activity kept separate or can it be reported jointly?

you said:"However, this selection won't make a difference on a joint return."  I suspected this would be the case but I got all in the weeds doing the state (PA) return. Thanks
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