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

Forum|Forum|6 years ago
December 7, 2019
4 replies
20 views

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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Best answer by sjrcpa

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

sjrcpaAnswer

Level 15

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

The more I know the more I don’t know.

T

TaxMonkey

Level 7

Income shifting is illegal.

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?

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