Searching: Can I allocate capital gains between me and my wife on AR1000F as 100/0 if "married filing separately on the same return," or must it be a 50/50 allocation?

[lparsch]

AR1000F is the Arkansas Individual Income Tax Return form.

[DDollar · Accepted solution]

If the assets that were sold were owned jointly (held in a joint account) you can allocate the capital gains any way you would like. If the assets sold were owned (the account titled in only one name) then that spouse must claim the gain or loss.

[jlrogers200]

i know how to allocate dividends and interest to spouse. Do not see how to do that with capital gains. Please tell me how. turbo tax does not ask me who owns this capital gain.

[lparsch]

Turbo Tax Premier listed the total capital gains amount and provided a blank into which I was asked to assign how many dollars were for my spouse.  This gave me the choice of how to allocate between us.  If Turbo Tax does not give you this choice, I believe you could edit the allocated amounts directly onto the IRS forms before they are submitted.

[jlrogers200]

In forms view look at Line 14B under optional info. Right click on the line and you have option for taxpayer, spouse or joint.

[brieli007]

I have the same question. Spent over two hours on the phone with a CSR who didn't know either and couldn't find the answer. Amazingly after we got off the call she closed the case as resolved...lol. Not resolved. Going to switch companies.