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meetma
February 26, 2021
Question

Dividing 1099-B Earnings

  • February 26, 2021
  • 1 reply
  • 0 views

How you divide 1009B earnings with spouse like you can on a 1099-INT.  Turbo taxes is apply all the income to me so I can not qualify for an IRA deduction.  The 1099-B earnings are from a joint brokerage account.

    1 reply

    ColeenD3
    ColeenD3
    March 3, 2021

    If the 1099-b is issued to you SSN, then you will need to report the proceeds as on 1099-B You can then adjust the  basis to show half of your gain/loss. Your spouse can report half of the amounts shown on Form 1099-B.

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