Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I live in a community property state and considering
filing Married filing separate returns to reduce
overall tax. Since my wife worked only part of the year last year and we have a joint investment account with rights of survivorship me being primary holder and she
being the co-applicant. Is it possible to show all the
capital gain on her return alone? Do we have to split the gain since we are in community property state? Do
I need to have 1099 from broker showing not just mine
but her social security number also?
Your help is greatly appreciated!

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.