Hi. When trying to add a new 1099-B for my spouse, it shows my tax ID when I open the form. On other 1099s, TurboTax allow to choose if its for you or your spouse. My question is how do you enter the 1099B for the spouse since the income was reported under her tax ID? Thanks a lot! DL
When you enter investment sales in the TurboTax interview you don't see any tax ID number. Are you entering the 1099-B information in forms mode?
The Form 1099-B Worksheet in TurboTax has no indication of whether the income belongs to the taxpayer or spouse, or is joint income. On a joint tax return it doesn't matter who the 1099-B income belongs to. (I don't know why they have an ownership indication on the 1099-INT and 1099-DIV forms. It doesn't affect your tax return, and doesn't even appear anywhere on the actual tax return.)
The top line of the Form 1099-B Worksheet always shows both names and the Social Security number of the person who is listed first. Although it's an internal worksheet, it's just following the format of the IRS forms for which ownership doesn't matter, such as Schedule A, Schedule B, and Schedule D. The purpose of the top line is to identify what tax return the page belongs to. That's mainly for paper returns, in case a page gets separated from the return. It doesn't mean that that's who the income belongs to.
By the way, entering investment sales in forms mode is not recommended because the worksheets are very complicated, and making the entries in forms mode is tricky and error-prone.
Bob Sandler
Got it. Thanks a lot!
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