Taxes on interest from joint foreign account

[jorgealmd]

Hello.

I have a foreign joint account with my brother who is a non-US person.  Do I need to pay taxes on the totality of the interest income from this account or only a portion since this account is owned jointly?  My brother (non-US person) is the principal joint owner though.

Thanks

[tagteam · Accepted solution]

You should consult with a tax professional with experience in international tax law (although USA tax law will apply to you). Further, you might want to read through the following article (which, admittedly, is not authoritative).

See http://woodllp.com/Publications/Articles/pdf/Beware_Joint_Accounts_Especially.pdf