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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). There is no report in the program that shows separate capital gain transactions for each spouse on a joint return, but TaxAct does provide a Short-Term and a Long-Term Capital Gains Summary report that shows all transactions regardless of owner.

Assign ownership when you report Form 1099-B in the TaxAct program (if you need help accessing Form 1099-B, go to our Form 1099-B - Entering Capital Gains and Losses in Program FAQ):

  1. From within your Form 1099-B, continue with the interview process until you reach the screen titled Investment Sales - Ownership.
  2. Click the circle next to Yourself, Your Spouse, or Yourself and Your Spouse Equally.

To review and/or modify the Joint vs. Separate Analysis, go to our MFJ vs. MFS - Federal and State FAQ.

To review and/or print the short- or long-term capital gain summaries, go to our Capital Gains Reports - Long-Term and Short-Term Reports FAQ.


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


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