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View Full Version : Joint account interest filing separately


pratibhac
Apr 10, 2006, 05:55 AM
In the case of a joint account, who should show "interest income". I am
Filing as resident alien. My husband's filing as non resident alien (and does
Not have to pay taxes on interest income, I believe).

pratibhac
Apr 10, 2006, 11:07 AM
Please reply asap..

vaya
Apr 10, 2006, 01:25 PM
Whoever's social security is on 1099-INT. If the interest is from a US bank and 1099-INT has his social or other ID number, your husband needs to pay taxes on that interest.

Vaya

AtlantaTaxExpert
Apr 11, 2006, 08:59 AM
Vaya:

I think you are incorrect. If the husband (who is a non-resident alien) files Form 1040NR and the 1099-INT has his SSN/ITIN on the account, then the interest is NOT taxable.

If the Form 1099-INT has her SSN/ITIN on it OR they are filing jointly and both will be treated as resident aliens, then the interest is taxable.

pratibhac
Apr 11, 2006, 01:38 PM
Thanks for replying promptly.

AtlantaTaxExpert
Apr 12, 2006, 08:12 AM
Glad to help!