# Joint Account T5



## HowIsMyFinancial (May 18, 2011)

Hi -

I have a joint account with my gf (with whom I have to fill as common-law this year).
We have 1 joint account that has a T5 on it, I was wondering how should we do this for income tax? Should we just split the interest income 50-50 on our individual tax return?

Thanks


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## Square Root (Jan 30, 2010)

The person who contributed the funds should claim the interest. Probably not very much so probably doesn't matter much. I think we get more questions about income attribution then almost anything else.


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## kcowan (Jul 1, 2010)

You split is based upon your respective contributions and ID the SIN for her. They will just check that she has claimed her share. It should only be 50-50 if that is how you contributed.


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## atrp2biz (Sep 22, 2010)

Should the receipts for joint accounts (when attribution is shared) be attached to both returns, or would one suffice?


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## Homerhomer (Oct 18, 2010)

one return only,


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