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I have co-owners of a brokerage account who are not married. Can I split dividend income one way and the capital gains differently?

erb81158
Level 1

One co-owner only has social security income so capital gains will be no benefit to him, but it would be advantageous if the dividend income was allocated to him. 

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sjrcpa
Level 15

If the co-owners split the income they need to split all income proportionately.


Ex-AllStar

View solution in original post

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7 Comments 7
sjrcpa
Level 15

If the co-owners split the income they need to split all income proportionately.


Ex-AllStar
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TaxMonkey
Level 8

Income shifting is illegal.

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IRonMaN
Level 15

"One co-owner only has social security income so capital gains will be no benefit to him, but it would be advantageous if the dividend income was allocated to him"

Doesn't it just seem like the IRS wouldn't agree with that logic?


Slava Ukraini!
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IRonMaN
Level 15
Well, if you are thinking they might agree, why don't you post your name and address here and I'll have the IRS contract you directly.

Slava Ukraini!
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abctax55
Level 15
You're gonna' have the IRS take out a contract on them?
"*******Tax software is no substitute for a professional tax preparer*******
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IRonMaN
Level 15
I just might :smile::smile:

Slava Ukraini!
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qbteachmt
Level 15

You asked Twice; don't overlook the answers at the original topic:

https://accountants-community.intuit.com/questions/1825195-for-a-joint-brokerage-account-with-an-unm...

Which I closed.


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