You can decide how to report it, but the person whose Social Security Number shows on the 1099-DIV must adjust their dividends to report they received the dividend as a nominee - you are a nominee if you receive dividend income that actually belongs to someone else (other than your current spouse). To make an adjustment to a dividend you simply add or subtract an amount from it. You must inform the other person of this adjustment. To enter this in TurboTax,
- In your
Federal return, choose the tab for Wages & Income, then scroll down
to Dividends on 1099-DIV and click Edit/Add
- On the
page Here's the dividend info we have so far Edit or +Add another broker
or payer if you have not yet entered the 1099-DIV
- On the
page Let's get the details from your 1099-DIV or brokerage statement, enter your dividends as received.
- On the page Tell us if any of these uncommon situations apply to you, mark the checkbox for I need to adjust these dividends.
-
Continue through the interview to the screen Tell us about your dividend adjustment and enter the amount of dividends you are transferring to your ex-spouse.
