PatriciaV
Expert Alumni

After you file

You can use the nominee procedures which will allow you to show the portion that belongs to others and then report only your portion of the interest income.

 

Nominee Interest: Some or all of the interest belongs to someone else but the entire amount was reported under your Social Security number. This includes interest belonging to other beneficiaries but reported under your ID number.

 

In TurboTax you do this by entering the 1099-INT, then checking on the next screen that you need to adjust the amount. You'll then be able to enter the adjustment amount and check the reason for the adjustment.

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