Answer:
Answer by Randy Carey: One, to whomever you have designed as the primary borrower (usually the first name on the account)and from whom you have obtained a W-9.
Answer:
Answer by Ken Golliher: On deposits, when the entire amount of interest on a joint account is reported to one person that person can send the second owner a 1099-INT to report his portion of the interest. Your customer can check with his tax preparer to see if a similar mechanism exists here.
It is not up to you to fashion a solution...
First published on BankersOnline.com 5/7/12
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