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Splitting dividends and capital gains on a joint account

Jim-from-Ohio
Level 11

in ohio, sometims better married filing separate.. savings is on the ohio side..

  • so couple came in. both made between  $ 100,000 - $ 120,000.. 
  • 1099 DIV was in husbands name
  • So i put those dividends on his return. about 10 different payors
  • they want to take the returns home and review them before filing. fine.. they paid me
  • then they email me saying they want me to split the dividends 50/50 on the two returns.. i told them, as nice as i could since they are in the same income tax range the net impact will be zero or near zero. they insist their former accountant told them this saves them money
  • fine.. they come back out today. divide in half the divs on husbands returns
  • put the other half on the wife's return.

net difference was $ 35.. half hour of my time.. could have done three other returns

they didn't even offer to pay any add't fee.  i should have said something maybe before i started

1 Comment 1
Accountant-Man
Level 12

1) How did you legally split an account in TP only name?

2) Was prior preparer fee different than your fee?

3) Why did they leave prior preparer?

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