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Do I Need to File a 1099-B for a Domestic Partner?

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PeterAndrew

Junior Member
California
My domestic partner and I own some stocks together, and whenever we have a gain or loss, we apportion it equally between the two of us on our tax returns (schedule D). I've been told that the one whose tax ID is used for IRS reporting should file a 1099-B for the half of the gain/loss that is being claimed by the other, but whenever I look at the form or its instructions, it seems designed solely for professional brokers. Moreover, it would be cumbersome, if there are a number of sales, to fill one of these out for each sale. Is it sufficient to attach a note with our tax returns explaining the way the gain or loss is apportioned?
 


Snipes5

Senior Member
They probably mean Schedule B, not 1099B.

You can nominee interest to your partner on Schedule B, and presumably nominee capital gains or losses via schedule D, and attach a statement explaining what you did.

With stock transactions though, you're probably better off each having your own account and your own transactions.

Snipes
 

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