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What is Schedule B in a tax return?

Anonymous

∙ 15y ago

Updated: 11/7/2022

Schedule B, titled Interest and Ordinary Dividends, is filed with Form 1040 or Form 1040A for seven reasons.

One, it's used to report over $1,500 of taxable interest or ordinary dividends.

Two, it's used to exclude interest from U.S. savings bond series EE or I issued after 1989.

Three, it's used to report foreign accounts or trusts.

Four, it's used to report interest from a seller-financed mortgage on a property used by the buyer as a personal residence.

Five, it's used to report original issue discount [OID] in an amount less than that shown on Form 1099-OID.

Six, it's used to report accrued interest from a bond.

Seven, it's used to reduce a bond's interest income by the amount of amortizable bond premium.

Wiki User

∙ 15y ago

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Related Questions

What is tax return form B?

The form Schedule B Interest Income and ordinary Dividends of the 1040 or 1040A income tax form. The form Schedule A Itemized Deductions of the 1040 tax form. Click on the related links

When filing for the federal income tax return do you have to attach schedule a for the state income tax return?

No, when filing for the federal income tax return, you do not attach the Schedule A for the state income tax return.

Is there a deadline for filing Schedule M?

Schedule M FORM of the 1040 income return for the making work pay tax credit has to be filed with your 2009 federal income tax return.

What is the difference between Schedule 1 and Schedule C on your tax return?

Schedule 1 on your tax return is used to report additional income or adjustments to income, such as capital gains or losses. Schedule C is used to report income and expenses from a business or self-employment.

In the US what is tax return form A?

Schedule A Itemized Deductions of the 1040 tax form. Go to the IRS gov web site and use the search box for SCHEDULE A

Where do you deduct SEP IRA contributions on your tax return?

You deduct SEP IRA contributions on your tax return on Form 1040, Schedule 1, Line 15.

Does a California tax return need a copy of the Federal return?

If you are filing Form 5402EZ or Form 540A, do not attach a copy of your federal return to your California return. If you are filing Form 540 you must attach a copy of your federal return to your California return only if you filed any schedules other than schedule A or schedule B with your federal return. If you are filing form 540NR, you must always attach a complete copy of your federal return to your California return.

Do I have to pay income tax in Alabama on income that was earned in Georgia?

If you are an Alabama resident, then yes, you must pay taxes on the income in both states. You would file a Georgia non-resident income tax return. Fill out the Georgia tax return first. When you fill out your Alabama return, attach Alabama Schedule CR to your Alabama return. Schedule CR will allow you to take a credit for some of the tax paid to Georgia. You get a credit for the tax liability as shown on the Georgia return, not the amount withheld.

Do you have to file a Schedule K-1 with your tax return?

Yes, if you are a partner in a partnership, a shareholder in an S corporation, or a beneficiary of an estate or trust, you will likely need to file a Schedule K-1 with your tax return to report your share of income, deductions, and credits.

What if you forgot to include a schedule when you mailed your return?

You will probably receive a notice or letter from the IRS requesting the missing schedule or information before they will be able to finish processing your income tax return.

What is the form 8949 code for reporting capital gains or losses on your tax return?

The form 8949 code for reporting capital gains or losses on your tax return is Schedule D.

What is the schedule for receiving the stimulas money for people on disability.?

The schedule isn't any different, but your tax return will have to have been processed by April 15 to get the rebate according to the schedule.

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