Schedule B

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Updated Jan 30, 2025
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A Schedule B form is a key tax document used in the United States financial system. It is used by individuals and entities to report interest and dividend income, ensuring compliance with tax regulations. Download this Schedule B form in PDF and fill it out confidently with the guidelines below.
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Document Types
Form 1040
This form helps U.S. taxpayers report income and determine taxes owed or refunds.
267 downloads
Form 1040-C
This form reports income and settles taxes for departing U.S. residents or nonresidents.
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Form 1040-ES
This form helps taxpayers calculate and pay estimated taxes on income not subject to withholding.
194 downloads
Form 1040-NR
This form helps nonresident aliens report U.S.-sourced income and calculate taxes owed or refunds.
213 downloads
Form 1040-SR
This form helps taxpayers 65+ report income and calculate taxes or refunds.
299 downloads
Form 1040-V
This form helps U.S. taxpayers submit payments for their federal income taxes accurately.
187 downloads
Form 1040-X
This form allows to amend income tax returns and correct errors or omissions.
213 downloads
Schedule 1
This document is used to report additional income and adjustments on a federal tax return.
181 downloads
Schedule 2
This form is used by taxpayers to report additional taxes and ensure accurate filing.
170 downloads
Schedule 3
This form is used by taxpayers to claim credits and reduce their tax liability.
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Schedule 8812
This form ensures the calculation and verification of credits for qualifying children and dependents.
120 downloads
Schedule A
This form is used by taxpayers to itemize deductions and report eligible expenses on their tax return.
171 downloads
Schedule C
This form reports business income and expenses to calculate net profit or loss.
232 downloads
Schedule D
This document is used to report capital gains and losses from the sale of assets.
173 downloads
Schedule E
This document is used to report supplemental income from rentals, royalties, and partnerships.
165 downloads
Schedule EIC
This form verifies eligibility for the Earned Income Credit by detailing qualifying children.
117 downloads
Schedule F
This document is used to report farm income and expenses for tax filing.
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Schedule H
This form reports household employment taxes for individuals who employ domestic workers.
160 downloads
Schedule J
This form ensures the calculation and application of income averaging for farmers and fishermen.
118 downloads
Schedule R
This form ensures the verification of eligibility for the Credit for the Elderly or the Disabled.
123 downloads
Schedule SE
This form ensures accurate calculation of self-employment taxes for Social Security and Medicare.
119 downloads
schedule b

Taxpayers who earn income from interest, dividends, or other financial investments are required to report these sources as part of their annual tax obligations. Specific provisions assist in accurately documenting taxable amounts and ensuring compliance. To claim these amounts and remain within federal tax regulations, eligible individuals must complete a designated form summarizing such income sources.

What Is 1040 Schedule B?

Schedule B form 1040 reports taxable income earned from interest or ordinary dividends. This form also includes additional questions about foreign accounts or trusts that taxpayers must disclose. Schedule B 1040 ensures that investment earnings are properly reported, providing transparency while calculating overall tax obligations.

When To Use Schedule B

Taxpayers are required to use the IRS form 1040 Schedule B if their interest income, ordinary dividend income, or combined total exceeds $1,500 during the tax year. It is also necessary for individuals who have financial accounts in foreign countries or receive distributions from certain foreign trusts. Submitting the IRS 1040 Schedule B provides a clear account of all applicable income sources related to these financial categories.

Parties Involved

  • Taxpayer. Provides a full account of their income from interest and dividends, along with any details on foreign accounts or trusts.
  • Financial institutions. Supply records such as form 1099-INT (Interest Income) and form 1099-DIV (Dividends and Distributions) to the taxpayer detailing earned amounts.
  • Tax professionals. Help organize, verify, and submit the information required on 1040 Schedule B 2025 as part of the overall tax filing process.

Key Terms

  • Interest income. Earnings from accounts such as savings, bonds, or certificates of deposit (CDs).
  • Ordinary dividends: Earnings distributed by corporations or mutual funds that are taxable as ordinary income.
  • Form 1099-INT. Issued by financial institutions to report interest income earned by the taxpayer.
  • Form 1099-DIV. Reports dividends and certain other financial distributions to investors.
  • Foreign account. Any bank or financial account held in a foreign country that may require disclosure.

How To Complete 2025 Form 1040 Schedule B

  • Organize income documents. Gather all forms 1099-INT and 1099-DIV from financial institutions.
  • Download Schedule B. Obtain the latest version of IRS Schedule B (form 1040) from the IRS website or Lawrina platform.
  • Report interest and dividends. Fill out Part I (Interest Income) and Part II (Ordinary Dividends) by listing payers and amounts as shown on your forms.
  • Answer foreign account questions. Complete Part III to disclose if you have foreign financial accounts or involvement with foreign trusts.
  • Submit with your return. Add Schedule B to your form 1040 or form 1040-SR filing by the standard tax deadline.