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Health & Fitness

How to Report Money That is NOT Actually Yours?!?

If you receive income in your name that actually belongs to someone other than your joint-filing spouse, you must file a 1099 form with the IRS appropriate to the type of income you received, and give a copy of the 1099 to the actual owner of the income. Then, when you file your return, you report all of the income but back out the co-owner’s share as nominee amount.

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