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jo1944
New Member

Reporting foreign interest income earned in a joint account

I live overseas. I am a US taxpayer but my husband is not and does not file a US tax return. We have joint accounts overseas that earn interest. How do I report that interest on my US tax return.

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1 Reply
pk
Level 15
Level 15

Reporting foreign interest income earned in a joint account

@jo1944 , 

I am not sure I understand the question.  Obviously, you can on your  US tax return recognize  the full   or any portion of the earned interest. This is true as long as the total amount is recognized somewhere between your and your spouse's return. Therefore , what are you trying to achieve.  As far as I know there is no language  in the tax treaties requiring a specific apportionment of earnings between spouses  ( except of places like Mexico where communal rules are followed i.e. all marital earnings are equally shared/owned  by the spouses ).

Does this answer your query ?

BWT -- as a US person , even with a foreign tax-Home, you are still subject to FBAR ( form 114 ate FinCen ) and FATCA ( form 8938 along with your return) regulations.

 

Is there more I can do for you ?

 

 

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