should our 1099-INT have both our names on it

Forum|Forum|1 year ago
March 10, 2025
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TurboTax Deluxe Online

Best answer by rjs

If the 1099-INT is from a joint account it should have both names on it, but it will only have one Social Security number. If it's an individual account the 1099-INT will only have one name. You might want to call the financial institution that issued the 1099-INT and verify the ownership of the account.

If you are filing a joint tax return you include all income for either one of you individually and all income from joint accounts.

Mike9241

Probably if bot names are on the account. From a tax standpoint, it doesn't matter unless that other person is not filing a joint return with you and yo want to split the income.

rjsAnswer

Employee

If you are filing a joint tax return you include all income for either one of you individually and all income from joint accounts.

JohnB5677

It may, it is based on how your account was setup.

If you are filling Married Filling Jointly it will make no difference

If there are multiple Taxpayers, the person who received the 1099-INT needs to file Form 1040 Schedule B and subtract the amount of interest that should "belong" to the other person as a "Nominee Distribution"
They then issue their own 1099-INT to the other person for that amount of interest, so that the other person can appropriately list it on their own return.
For details, see the section on "Nominee distributions"

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