I am currently separated and my spouse and I are wanting to file married but separate due to the pending divorce. My question is that we have received a 1099-INT form for a joint account and we are wondering if we can still file separate. Could it be that one of us has to claim the account on their taxes? Not really sure how to proceed with this one.

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Originally Posted by Mr_Q

I am currently separated and my spouse and I are wanting to file married but separate due to the pending divorce. My question is that we have received a 1099-INT form for a joint account and we are wondering if we can still file separate. Could it be that one of us has to claim the account on their taxes? Not really sure how to proceed with this one.

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Whose social security number is on the 1099-INT. That's who the IRS will be looking to report the income.

Agreed!

Just a little FYI (For your information)

Keep in mind also, that if one spouse itemizes (Schedule A) then the other spouse MUST also itemize. Even if spouse A has a large Schedule A and spouse B doesn't have enough to exceed what would be the standard deduction, Spouse B would only be able to deduct whatever little they could on a Schedule A. (That could even be less than the standard deduction would have been)

If one spouse only claims the standard deduction and does not itemize, then the other spouse must ALSO claim only the standard deduction and NOT itemize.

Either you both itemize or you both take the standard deduction. You must also put on your return the name and social security number of the spouse that you are filing married filing separate with so the IRS can keep track of this.

Mobea has said it all; nothing to add.