1099-int ownership change to joint

artg · ‎June 6, 2019

In 2016 my one and only 1099-INT was filed under my name as "Taxpayer." In 2017 my wife and I executed a Joint Living Trust and I'd like to change the filing status on this particular 1099-Int to Joint Ownership. Am I creating a problem?

SteamTrain · ‎June 6, 2019

No, that shouldn't matter as long as you are filing a MFJ tax return

Delete the old 1099-INT if an empty one transfers in from last year, and a create it a new one indicating it is for both of you.

___________________________

The only difference in filing is if you happen to file MFS for Federal or State...and you have to divide the income $$ between the two of you..

Some states have forms to file MFJ-Federal , and the state form lets you file MFS-State where you would divide the interest up between the two of you

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

View solution in original post

SteamTrain · ‎June 6, 2019

No, that shouldn't matter as long as you are filing a MFJ tax return

Delete the old 1099-INT if an empty one transfers in from last year, and a create it a new one indicating it is for both of you.

___________________________

The only difference in filing is if you happen to file MFS for Federal or State...and you have to divide the income $$ between the two of you..

Some states have forms to file MFJ-Federal , and the state form lets you file MFS-State where you would divide the interest up between the two of you

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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1099-int ownership change to joint