I received a 1099-INT for interest earned on a joint account. My SS# is the only one on the form. I understand how to enter the 1099-INT on my return and mark the nominee item. What I don't know is if I have to issue a 1099-INT to the other person and file a 1096 with the IRS. It is only one form and their name is actually on the account but only one 1099 was issued.
Is it ok to mark the appropriate items and adjust my interest and have them enter just their portion on their tax return as interest without a 1099?
