Hello
We are filing as "married, filing jointly". We have a trust account listing both of us, husband and wife as trustees for a bank account where we used my wife's SSN for the trust account. When entering the interest from the 1099-INT form, turbo tax is asking us who does this 1099-INT belong to. They list:
a. name of wife
b. name of husband
c. both ie wife and husband
Which one do I choose? or does it matter since we are married filing jointly? At first I was going to choose who is listed under the SSN which is the wife's or do I choose c. both since it's a trust account??
Thank you,
Gene
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If both of you are owners on the account, you will choose the answer "Both." You would only choose one of the other answers if this was an account held only in the name of the husband or only in the name of the wife - i.e. as separate property.
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