Husbands and wives are treated as one seller unless they choose to be treated separately. One of the spouses will choose to report the transaction under his or taxpayer identification number. If the husband and wife choose to report the transactions separately, they are required to submit an allocation as in the case of any other multiple seller situation. If their allocation does not add up to 100%, the settlement agent is required to allocate 100% of the gross proceeds to both the husband and the wife.

If the sale concerns a principal residence, the husband and the wife are required to complete separate certifications for the transaction to be exempt from reporting.

Additional topics:

How to Fill Out the Input Sheet
Who is Subject to the Reporting Requirements
Which Transactions are Subject to the Reporting Requirement
Sales of Principal Residences
Multiple Sellers
Foreign Sellers
Exchanges
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