One rule of thumb is the person who's Social Security number is on the 1099-INT will report it, or the person who is listed first on the account for which the 1099-INT is issued will report it.
Another method:
If you’re married but filing separately, since each spouse is filing a separate return, you’ll divide the interest income between each account holder.
The IRS treats the division of income on joint accounts based on your local (state) laws. You need to know how your state divides assets. This can be found on your state's income tax website or by googling your state and how income is divided.
Then, use those rules to determine who'll claim the interest.
For those that live in a community property state, each person reports half of the interest income on their individual returns.
For those that don’t live in community property state, you will have to divide the interest income based on your portion of ownership of the account throughout the year.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
