Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

Entering a nominee distribution on the Dividend Income Worksheet (additional Information) is decreasing the nominee distributions in the return. Why?

Labels (1)
0 Cheers
2 Replies 2
Level 1

In the interest and dividend worksheets the amount of "Nominee Adjustment" is entered as a positive number (which may be counter-intuitive).  You may have to us separate entry lines on the Sch. B W/S because the nominee adjustment gets spread across everything on that line; so split into a pre-DoD bucket and a Post-DoD bucket.  

Then include an explanatory statement telling IRS what you have done about accomplishing the split.  A spreadsheet will help, but there's no way it's not tedious.

0 Cheers
The program will not let me enter a negative number for the amount of the nominee distribution.  I am entering a positive number and the program is still adding the nominee adjustment to taxable income.  I updated my program and it appears to be working correctly now.
0 Cheers