Joint account with parents

[tony007009]

Hello all,

Question about joint account.

My mom wants me to open online CD account and I will be managing it for her since its all online.

It will be a joint account so I have access in case anything happen. Do I have to pay taxes on the interest that this accoutn earn nest year? She will be the primary of the account and she lives in a different address than mine. She doesnt file taxes each year cuz her income is under 10k.

Thanks,

[DoninGA]

If your mom is the primary on the account, then any interest earned will be reported on a Form 1099-INT with her Social Security number on the form.