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Joint account taxes

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jasonfodor
New Visitor

Joint account taxes

Got a new job and want to open a joint account (open to checking or savings) with my daughter or possibly even using my daughter's personal bank account for direct deposits at my new job.


(1) Do you think HR will let me add a bank account that is not mines? (we have the same last name). If they do, can I pay the 1099-DIV tax form or will the IRS not allow it?

(2) If we open a joint account, can either one of us pay the 1099-DIV taxes?

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AndySoCal
Senior Contributor

Re: Joint account taxes

@jasonfodor  Having a direct to deposit go into an account that you are not on will be rejected. Open a joint checking account with both of your names on the account. You can also open if you want a savings account as well. The interest earned is the responsibility of both parties on the account. Ask your bank or credit union for more information.

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