My wife (we file "Married filing jointly") is co-owner (not co-signer) with her mother on her mother's bank savings account. Her mother received a 1099-INT from that account. I understand that as a co-owner her mother should issue a 1099-INT to my wife for half of the interest reported on the original 1099-INT from the bank. I have also heard that her mother needs to file a 1096 showing that she issued a 1099-INT to my wife.
For Tax Year 2024, we have already filed our return. Her mother has not yet. Where do we find the 1096 form in TurboTax Deluxe desktop (this version is used for both returns) to create the 1096 and the 1099-INT?
Can her mother file electronically, or does she need to file via paper?
Same questions for Tax Year 2023. Both returns (ours and her Mother) have been filed by the April 2024 deadline. We will need to have amended returns for both of us - do these amended returns need to be paper? Where do we find the 2023 1096 form? Where do we find the 2023 1099-INT form?
Thanks in advance for any help.
