If I am a secondary owner on a savings account that earned more than $10 in interest, do I need to report the interest income from the 1099-INT if my bank only sent the 1099-INT to the primary owner?

vxue92 — Tue, 04 Jun 2019 20:55:08 GMT

Yes, you do need to report your portion of the interest,...

MargaretL — Tue, 04 Jun 2019 20:55:09 GMT

Yes, you do need to report your portion of the interest, if you are a true joint owner of the account. In general, the bank will only send 1099-INT to the primary SSN, but if some of the interest belongs to you, please report it as nominee interest.

In TurboTax, you would enter the amount as if you received form 1099-INT.

Federal Taxes
Wages and Income
Interest and Dividends, select Interest on 1099-INT - enter your portion in box 1

topic If I am a secondary owner on a savings account that earned more than $10 in interest, do I need to report the interest income from the 1099-INT if my bank only sent the 1099-INT to the primary owner? in Get your taxes done using TurboTax

If I am a secondary owner on a savings account that earned more than $10 in interest, do I need to report the interest income from the 1099-INT if my bank only sent the 1099-INT to the primary owner?

Yes, you do need to report your portion of the interest,...