Don't worry about the nominee reference; that is the correct but complicated way to handle this.
Instead, go to the 1099-INT section. You will note that you are asked to check the owner of the interest, and to enter the Payer and the amount.
Do this twice, once indicating half the interest and that it belongs to one person, then repeat and enter half the interest and indicate that it belongs to the other person.
So many people in fact don't get a 1099-INT that you don't need to report the form exactly as is. Be sure to make a note to yourself on what you did and stick it in your tax file in the extremely unlikely case that anyone ever asks.
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