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March 31, 2022
Question

How do i divide an account that was sold amongst 3 people?

  • March 31, 2022
  • 1 reply
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I have an investment account with 2 other people that was sold how is this divided when reporting on taxes? Just divide the dividends by 3?

1 reply

March 31, 2022

No, if you received a 1099-DIV and it is in on your name then you will report the full amount. Your numbers should match exactly on how it is reported on 1099-DIV. If the other 2 people did not have their name on the tax form, then you are responsible for reporting and paying taxes (if applicable ) on the entire amount.