My mother who is not a US citizen and does not live in the country added my name to her savings bank account. Can I adjust the reported interest since I'm a joint owner?

[DS30 · Accepted solution]

Yes. If this account is held jointly, then you will only need to report your proportionate share of this foreign interest income (in USD) on your income tax return.

Please note : If you have foreign bank accounts, you may be required to file a Report of Foreign Bank and Financial Accounts (FBAR) if are a US citizen or resident and:

1. you had a financial interest in or signature authority over at least one financial account located outside of the United States; and
2. the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

To be directed to the US Treasury Government Website to prepare a Report of Foreign Bank and Financial Accounts, click FBAR (TurboTax does not support this form)