About Schedule B (Form 1040), Interest and Ordinary Dividends

 

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.
  • You are reporting original issue discount (OID) in an amount less than the amount shown on Form 1099-OID.
  • You are reducing your interest income on a bond by the amount of amortizable bond premium.
  • You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989.
  • You received interest or ordinary dividends as a nominee.
  • You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust. Part III of the schedule has questions about foreign accounts and trusts.

Current Revision


Recent Developments

None at this time.


Other Items You May Find Useful