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Subject:  Re: Married filing separately Date:  4/21/1998  8:55 PM
Author:  TMFTaxes Number:  3610 of 128300

[[My wife and I are filing separately and some of our accounts are held jointly. How do we declare
the dividends and interest separately? Do we split the amount in half?]]

Generally speaking, yes. You would each report half of the earnings of the account if they are held jointly.

But the married/separate filing is one of the most MISunderstood filings, and virtually all of the married/separate filings done by the taxpayer themselves are incorrect.

The rules are different for people living in a community property state vs. a separate property state. You might want to check out IRS Publications 504 and 555 at the IRS web site for some additional information, ESPECIALLY if you live in a community property state.

TMF Taxes

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