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Posted by gv on March 6, 2008, 8:36 am
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Hi,
I have a joint bank account in the US with relatives that live outside
of the US. The interest on the account was reported to me in a 1099-
INT. Since the funds of the account are shared, I want to pay only
taxes on my part and distribute the rest to them. According to the
instructions I need to generate 1099-INTs for them, and file copies of
those and a 1096 to the IRS. However, non-resident aliens are not
required to pay taxes on interest from US banks, so banks don't issue
1099-INT to them. Furthermore, since they don't live in the US, they
do not have SSN nor TIN. Is there another form that I should fill to
report their share of the interest?
Thanks for your help!
GV
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