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Use Schedule B (Form 1040) if any of the following applies. You had over $1,500 of taxable interest or ordinary dividends. You received interest from a seller-financed mortgage and the buyer used the property as a personal residence. You have accrued interest from a bond.
Information about Schedule B (Form 1040), Interest and Ordinary Dividends, including recent updates, related forms, and instructions on how to file. This schedule is used by filers to report interest and ordinary dividend income.
Schedule B (Form 1040) and its instructions, such as legislation enacted after they were published, go to IRS.gov/ScheduleB. General Instructions Use Schedule B (Form 1040) if any of the following applies. •You had over $1,500 of taxable interest or ordinary dividends. •You received interest from a seller-financed mortgage
Schedule B is an IRS tax form that must be completed if a taxpayer receives interest income and/or ordinary dividends of more than $1,500 during the tax year.
The Schedule B has three sections: interest, ordinary dividends and foreign accounts and trusts. To complete the interest section, you need to separately report the name of each institution that sends you a 1099-INT form and the amount of interest it reports.
You're required to file Schedule B if you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country.
In this article, we’ll walk you through everything you need to know about IRS Schedule B, including: How to complete and file Schedule B. Types of income to report in Schedule B. Other tax situations in which filing Schedule B is required. Let’s begin by walking through this tax form, step by step.
Use the IRS Schedule B tax form if you have interest or dividends in excess of $1,500 or if you have foreign accounts, bond interest or other special situations.
SCHEDULE B (Form 1040) 2024 Interest and Ordinary Dividends Department of the Treasury Internal Revenue Service Attach to Form 1040 or 1040-SR. Go to www.irs.gov/ScheduleB for instructions and the latest information. OMB No. 1545-0074 Attachment Sequence No. 08. Name(s) shown on return. Your social security number. Part I Interest (See ...
Learn how to report interest and ordinary dividends with IRS Form 1040 Schedule B. Find instructions and updates for filing your tax form with interest or dividend Income.