See instructions. For Paperwork Reduction Act Notice see your tax return instructions. Cat. No. 17146N Schedule B Form 1040A or 1040 2017. SCHEDULE B Department of the Treasury Internal Revenue Service 99 OMB No. 1545-0074 Interest and Ordinary Dividends Form 1040A or 1040 Go Interest Attachment Sequence No. 08 Your social security number Name s shown on return Part I Attach to Form 1040A or 1040. to www*irs*gov/ScheduleB for instructions and the latest information* Amount List name of payer....If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence see the instructions and list this interest first. Also show that buyer s social security number and address See instructions and the instructions for Form 1040 line 8a* Note If you received a Form 1099-INT Form 1099-OID or substitute statement from a brokerage firm list the firm s name as the payer and enter the total interest shown on that form* Add the amounts on line 1. Excludable...interest on series EE and I U*S* savings Attach Form 8815. Subtract line 3 from line 2. Enter the result here and 1040 line 8a. Note If line 4 is over 1 500 you must complete Part III. bonds issued after 1989. on Form 1040A or Form Ordinary Dividends 1099-DIV or the ordinary dividends shown on that form* Foreign Accounts and Trusts You must complete this part if you a had over 1 500 of taxable interest or ordinary dividends b had a foreign account or c received a distribution from or were a...grantor of or a transferor to a foreign trust. 7a Yes No At any time during 2017 did 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 See instructions. If Yes are you required to file FinCEN Form 114 Report of Foreign Bank and Financial Accounts FBAR to report that financial interest or signature authority See FinCEN Form 114 and its instructions for filing requirements...and exceptions to those requirements. b If you are required to file FinCEN Form 114 enter the name of the foreign country where the financial account is located During 2017 did you receive a distribution from or were you the grantor of or transferor to a foreign trust If Yes you may have to file Form 3520. to www*irs*gov/ScheduleB for instructions and the latest information* Amount List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a...personal residence see the instructions and list this interest first. Also show that buyer s social security number and address See instructions and the instructions for Form 1040 line 8a* Note If you received a Form 1099-INT Form 1099-OID or substitute statement from a brokerage firm list the firm s name as the payer and enter the total interest shown on that form* Add the amounts on line 1. Also show that buyer s social security number and address See instructions and the instructions for Form...1040 line 8a* Note If you received a Form 1099-INT Form 1099-OID or substitute statement from a brokerage firm list the firm s name as the payer and enter the total interest shown on that form* Add the amounts on line 1. Excludable interest on series EE and I U*S* savings Attach Form 8815. Subtract line 3 from line 2. Enter the result here and 1040 line 8a.
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Instructions and Help about IRS 1040 - Schedule B
How to edit IRS 1040 - Schedule B
How to fill out IRS 1040 - Schedule B
Instructions and Help about IRS 1040 - Schedule B
How to edit IRS 1040 - Schedule B
To edit IRS 1040 - Schedule B effectively, use a platform like pdfFiller that allows electronic form corrections. Begin by uploading your completed form to the platform. Utilize the editing tools to modify any sections that require updates. Ensure all entries comply with the IRS requirements, then save the changes before proceeding to print or submit.
How to fill out IRS 1040 - Schedule B
Filling out IRS 1040 - Schedule B requires careful attention to detail. Start by gathering necessary financial documents, such as forms from your bank or brokerage. Follow these steps for completion:
01
Provide your name and Social Security number at the top of the form.
02
Report interest and dividends on the appropriate lines.
03
Indicate whether you have foreign accounts.
04
Sign and date the form before submission.
About IRS 1040 - Schedule B 2017 previous version
What is IRS 1040 - Schedule B?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 1040 - Schedule B 2017 previous version
What is IRS 1040 - Schedule B?
IRS 1040 - Schedule B is a supplemental form used by U.S. taxpayers to report interest and dividends earned throughout the tax year. This form helps the IRS verify income and ensure proper taxation of earnings from various sources, such as bank accounts and stock investments.
What is the purpose of this form?
The primary purpose of IRS 1040 - Schedule B is to provide a detailed report of income derived from interest and dividends. Taxpayers must disclose this information to accurately assess their total income and tax liability. Additionally, the form collects information on foreign accounts, which is crucial for compliance with international tax laws.
Who needs the form?
Taxpayers who earn interest or dividends, or who have certain foreign accounts, are required to file IRS 1040 - Schedule B. If your total interest or dividends exceed specific thresholds, you must disclose this information. Also, those with foreign bank accounts exceeding $10,000 must complete this form for compliance with the Foreign Account Tax Compliance Act (FATCA).
When am I exempt from filling out this form?
Taxpayers are exempt from completing IRS 1040 - Schedule B if they do not have any interest or dividends to report, or if their total amount is below the IRS filing thresholds. Additionally, if your income comes solely from employment and you do not have foreign accounts, you do not need this form.
Components of the form
IRS 1040 - Schedule B consists of several sections detailing specific types of income. The form includes sections for reporting ordinary interest, qualified dividends, and foreign accounts. Each section specifies where to report amounts and which attached documents may be necessary for verification.
What are the penalties for not issuing the form?
Failing to file IRS 1040 - Schedule B when required can result in penalties. The IRS may impose fines and interest on unpaid taxes if the income reported is underestimated. Additionally, neglecting foreign account disclosures may lead to significant civil and criminal penalties under FATCA regulations.
What information do you need when you file the form?
When filing IRS 1040 - Schedule B, you need detailed information on all sources of interest and dividends. Gather forms such as 1099-INT for interest income and 1099-DIV for dividends. Also, be prepared to provide information regarding any foreign financial accounts, including account names, numbers, and maximum balances during the year.
Is the form accompanied by other forms?
IRS 1040 - Schedule B may be accompanied by additional documents such as IRS Form W-2 and Forms 1099 when applicable. Taxpayers filing Schedule B should attach it to their main IRS 1040 form. When reporting foreign accounts, additional disclosures may also be required.
Where do I send the form?
Submit IRS 1040 - Schedule B by attaching it to your main IRS 1040 form. Depending on your filing method and residential location, the submission address may vary. Consult the latest IRS guidelines to determine the correct mailing address or e-filing procedures based on your state of residence.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
