Regarding this 50/50 split. I am trying to split my 1099-INT with my husband who is joint owner on the bank account. I saw the nominee distribution on schedule B after I deducted half (using the POSITIVE number). Now, on my husbands return (married filing separately) do i just put that half amount in his interest section? Or, do I have to do the same process with the Nominee Distribution as I did on my return? So, would I simply add the bank name and half the amount in Box 1 in Turbo tax on his? so the full amount of the 1099-INT will show on my return so the IRS knows that I reported it, but then it will show I deducted half and they will automatically go to my husbands return to verify he reported the other half? I'm reading things about filling out a 1099-INT, however the IRS states that if it is a spouse you are splitting it with you do NOT have to. Does that also mean the Form 1096 does NOT have to be filled out either (if it is your spouse you are splitting it with)?
