T3 Asset jointly owned by both spouses.

I have posted full amount on T3 in one spouse's return and in the box at bottom, have indicated 50% be applied to other spouse's return. According to instructions, Turbo Tax will automatically apply 50% to other spouse's return. Is this correct? Or, do I need to add the full amount under each spouse?

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1 Best answer

Level 1

Oct 30, 2019 2:11:34 AM

You would only enter the T3 once and indicate the split. If it is 50%, 1/2 of the amount will show up on each return automatically.

Level 1

Oct 30, 2019 2:11:34 AM

You would only enter the T3 once and indicate the split. If it is 50%, 1/2 of the amount will show up on each return automatically.

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T3 Asset jointly owned by both spouses.