taxes96786
Level 9
02-15-2023
10:47 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This is SOP for Finance companies, You need to ask them to send separate 1099s.
I enter the full amount on the 1099 and make an adjustment, with explanation (see SSN # return).
I do the same on both returns and have never had it questioned. If IRS does question it they would have the docs to prove the split. It's the same as splitting income and expenses on a joint owned rental or business.