Nominee interest

[DTS]

I would like to show nominee interest on a return without filing the 1099. I would show it on the recipient as "Nominee interest from ss xxx-xx-xxxx" and on the other return, show it "to xxx-xx-xxxx".

I know a 1099 should be filed, but this seems like it would be OK this one time.

Have any of you done this with no problems?

Thank you,
Dennis

[Gretel]

Dennis,

I have done it with no problem for several years, but no high $$ involved.

[DTS]

$$ value

Gabriele,

The amount is approximately $1,000.

Last year, this account was in the Mother's name and should have remain so. Don't know how it got changed into the daughter's name and ss, but that was a mistake on the bank's part. I can show the account in Mom's name/ss and Sch B from last year.

Are your feelings still the same, given the modest amount of interest?

Dennis

[Bird Legs]

Nominee interest

I also have done it that way numerous times. The amount doesn't matter.
Have had no problems.

[DTS]

Gabriele & Bird Legs

Thank you for the help. I thought I would e-file in the morning after checking the board tonight. So, this is good to know all will be OK.

Thanks, again,
Dennis