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<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?>

It depends on whether you live in a community property or common law state. Community property states include: Louisiana, Texas, Mexico, Arizona, CA, Washington, Idaho, Nevada, and Wisconsin. If you live in one of these states all property is deemed to belong to the marital community and should be treated as if one-half of the income is earned by each spouse. If the property (stocks, land, etc.) was acquired before the marriage or recieved by gift or inheritance following the marriage, it may be claimed seperatly by each spouse. If you live in a common law state seperate property produces seperate income, and each person is taxed only on their property.

SBT1
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