Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

Posts: 2
Registered: ‎03-09-2018
Accepted Solution

Post-Divorce Adjustments to Interest Income

[ Edited ]

Good morning. After a divorce last year, I received joint bank interest via a 1099 form listing only my name. The H&R Block software indicates:

“Give a Form 1099-INT to the actual owner of the interest you received as a nominee.

You must file Forms 1096 and 1099-INT with the IRS.” A few questions:


After making the adjustment to the interest this is no place to indicate my ex-spouse info for the other 50% (as suggested via another post in this Community). Did I miss this?


Besides completing forms 1096 & 1099-INT, should I include an explanation to the IRS?

Will anyone even read it?

Can I still e-file or not if I want to include an explanation?


Also, when is the 1096/1099 forms due to the IRS? My search indicates 1/31/18 but that seems more for a business. I did not know about these forms until working on my 1040.


Thank you for your help.

Associate (Pioneer)
Posts: 4
Registered: ‎03-13-2018

Re: Post-Divorce Adjustments to Interest Income

Hi Tennis85,

No you did not miss anything about indicating the adjustment is for your ex-spouse.


As you have already suggested, you will have to file a 1099-INT and send it to the IRS and your ex-spouse. You will also have to fill out form 1096. Here is a link to the instructions for filling out a 1099-INT form,


You do not need to have an explanation to the IRS, and you can still e-file your return (Generally, writing out an explanation to the IRS bars you from e-filing).


Filling out that 1099-INT form is your way of telling the IRS who the other interest income belongs to, that is why there is no need to fill out your ex-spouse’s information. That is also why there is no need to write out an explanation to the IRS.

Here is a link to the IRS publication 550, about investment income. On page 19, in the middle of the page, the section that starts with “Nominee distributions” might be worth a read. Nothing in this section suggests anything about needing either an explanation, or including your ex-spouse’s information on your 1040. 

As far as the due dates go, the 1099-INT was indeed due by 1/31/2018. The 1096 was due by 2/28/18. I recommend completing and furnishing these forms as soon as possible.


If you have any other questions I'll be glad to help.



Tax Research Specialist

Posts: 2
Registered: ‎03-09-2018

Re: Post-Divorce Adjustments to Interest Income

Hi Lee,

Thank you for your detailed answer.  I have requested the 1099 and 1096 forms from the IRS and will submit them upon receipt.  Have a nice day! Smiley Happy