Search Help Topics:

The Joint vs. Separate Analysis will separate the net capital gains or losses by taxpayer and spouse, up to the amounts allowed. You may deduct capital losses up to the amount of your capital gains plus $3,000 ($1,500 if married filing separately).

Taxpayers should first enter the data on a joint return. When doing so, there is a check box at the top of Form 1099-B Proceeds From Broker and Barter Exchange Transactions or within the Q&A on joint returns to indicate ownership of the Form 1099-B.

To review and/or modify the Joint vs. Separate Analysis:

  1. From within your TaxAct return (Online or Desktop), click Review to expand, then click Reports. On smaller devices, click in the upper left-hand corner, then select Review.
  2. On the screen titled Would you like to compare the benefits of filing joint vs. separate?, click Yes, let's run the comparison to proceed with the interview questions concerning the setup of the analysis.

There is no report in the program which shows capital gain transactions for each spouse on a joint return. However, TaxAct does provide a Short-Term and a Long-Term Capital Gains Summary report.

To review and/or print the short- or long-term capital gain summaries:

  1. From within your TaxAct return (Online or Desktop), click Review to expand, then click Reports. On smaller devices, click in the upper left-hand corner, then click Review.
  2. On the screen titled Capital Gain Summary, click either Short-Term Summary or Long-Term Summary to generate a report.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


Was this helpful to you?