StillWater2...[at]gmail.com wrote:

- quote -

If the investment account is in one name, that individual
reports the earnings on their return.Earnings on a joint
account is considered to be received equally by the spouses
(1/2 each) unless one spouse can show otherwise.

If both spouses are legally responsible for the mortgage and
property taxes then each spouse can deduct the amount they
paid. If the taxes and mortgage interest were paid from a
joint account that both spouses contribute to, both spouses
are considered to have paid equal amounts.

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I am planning to file separately for my wife and I. This is
my first time filing separately. How do I file:

1. Interest? Accounts is in my name. Some accounts are
in both names but the 1099-INT only has my name. Can
I split these interests between my wife and I? If yes,
how do I report them on the tax form?

2. Property tax and interest. These accounts are in both of
our names. Can I split these interests between my wife
and I? If yes, how do I report them on the tax form?

Are there publications for the IRS itself where I can read
more on this?

Thanks in advance for your help.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >