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If you are in joint tenancy on a bank account and one of you dies, is the account subject to taxes and what ki


Is the above asked question covered under the trust of the deceased person?

Joint Tenancy in Common? Joint Tenancy with Rights of Survivorship?

The accounts would not be subject to income taxes, except any interest they may have earned. If the estate is big enough (almost millionaire), the accounts may be subject to the estate tax (aka death tax).

Any ownership issues involved depend on the kind of joint tenancy account.
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