1. Mother buys stock with her money sets up joint ownership with her daughter.
  2. Mother sells stock and gets 1099-B in her name showing full proceeds of sale.

Is the full income the mothers (on tax return) or is the income (and the tax) shared equally between the mother and daughter.


One of the triggers for audit is when the IRS can't match 1099 income to the tax return. Whoever got the 1099 in her name should include that income on her return.

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