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TDEvans
recently joined

Reged: 03/13/13
Posts: 1

"Nominee Owner" for Stock Grants - IRS Filing?

#800735 - 03/13/13 11:25 AM

I was divorced 2 years ago, and had some stock grants that had not vested.

They just vested, so I received value from both the sale of the stocks and accrued dividends. Under my decree, my ex gets about 1/3 of these amounts. For taxes, that makes me a "nominee" for these and I need to file SOMETHING with the IRS to transfer my ex's tax liability to her.

I THINK for the dividend portion, I'd file a 1099-DIV as nominee with a copy to both the IRS and my ex.

For the stock sale, I'm guessing I might file a 1099-B, but an not sure.

Any CPA's out there that can give me advice on how to report this to the IRS so I can transfer tax liability?

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Avaya
Carpal \'Tunnel

Reged: 02/09/06
Posts: 9823
Loc: Arkansas

Re: "Nominee Owner" for Stock Grants - IRS Filing?

[Re: TDEvans]
#800904 - 03/15/13 01:10 PM

You would report 100% of the 1099-DIV on your return and then you'd add a line that you describe as "Nomineed to [censored]-xx-xxxx" and then put a negative 1/3 of the total in that box. I'd give ex a copy of the whole 1099 to ex and they'd report their 1/3 on a line titled "Nomineed from [censored]-xx-xxxx". You dont file a 1099, you receive one and report it.

For the stock sale, you would do the same thing, report the whole sale (on both, the reason is so that the 1099's match what is filed, the nominee portion is irrelevant to the actual 1099, not reporting the whole 1099 could hold up your filing when what you report doesn't agree to what is reported by the 1099 filer) and then 'nominee...' her portion and she will show the sale on hers as 'nomineed from...'

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