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Tag Archives: Coowner
Mom Adds Me As A Coowner To Her Savings Account. Does The Irs See This As Income To Me?
I don’t mean the interest – I’m worried about the principle. I want to know if by being named a co-owner, would the IRS expect me to declare any part of the savings balance as income, perhaps as a gift…
Do I Owe Income Tax If I’m Added As A Coowner To A Savings Account?
If a relative adds me as a co-owner to their savings account, do I have to declare this for federal income tax purposes?
Do I Owe Income Tax If I’m Added As A Coowner To A Savings Account?
If a relative adds me as a co-owner to their savings account, do I have to declare this for federal income tax purposes?
If I’m Added As A Coowner To A Savings Account, Is It A Gift For Fed Income Tax Purposes?
I don’t care about the issue of the interest on the savings. I care about knowing if by being named a co-owner, that the principle, or part of it, may be taxed as a gift.