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weird money question
ok, so i don't know what everyone else does with their money but right now we have separate accounts for everything. it's worked really well for us, but now we're thinking about making some changes. she's got a scottrade account that she's been talking about adding me to, and i'm going to open a high yield savings account online--like, tonight, because i got a little chunk of money from tuition reimbursement. i've been thinking about opening one anyway and have been doing some research, and i happened to get a promotional deal in the mail for one of the ones i was considering so this seems like as good a time as any.
here's my question: if i add her to my account or she adds me to hers (or both), does anyone know how that works in terms of taxes since we obviously can't file jointly? does one of us just claim whatever dividends we get from the accounts, like whoever the primary account holder is, or do we have to split them, or can we pick who claims them? what?
did that even make sense?
Re: weird money question
your question definitely makes sense.
we've always claimed under the primary account holder - but i'm honestly not sure if thats the correct way to do it...i just assumed and never questioned it.
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We've done the same - primary account holder. Our taxes have been done by professionals so I'm guessing this is correct.
Angi's actually the primary on our accounts and I'm the one that claims most of it. We too get our taxes done for us, so I'm really no help on which way is correct!
Kudos for getting the high-yield savings going!
IUI #3 gave us the best 2nd anniv. gift ever: 2 babies! (born 03/09/10)
Peanut and Little Man are getting so big! 2 years old already!
finally blogging again at This Will Be: An Adventure
thanks for the responses, ladies!
i did a bit more research (i feel like i've read a million things on this stuff this week) and it seems that the primary account holder is the one who is supposed to claim it. so i would claim the new savings account and c would claim the other one.
why the hell can't the government just recognize our marriages so we don't have to deal with this kind of crap? sheesh.