Information for Schedule B (Form 1040) is entered in the Interest and Dividend Income menu. Schedule B is divided into three parts:
- Part I – Interest income, plus the amount of excludable interest from series EE and I US Savings Bonds as calculated on Form 8815.
- Part II – Ordinary dividend income.
- Part III – Information related foreign bank accounts and trusts. The taxpayer is required to answer the questions in this section if any of the following are true:
- The taxpayer received over $1,500 of taxable interest or $1,500 of ordinary dividends;
- The taxpayer has a foreign account;
- The taxpayer received a distribution from, or was a grantor of, or a transferor to, a foreign trust.
Part I and Part II
To enter Forms 1099-DIV, INT, and OID into TaxSlayer ProWeb, from the Federal Section of the tax return select:
- Income
- Schedule B – Forms 1099-INT, DIV, OID
See here for more information about entering Form 1099-INT.
See here for more information about entering Form 1099-DIV.
See here for more information about entering Form 1099-OID.
Part III
If Part III is required, the questions are answered No by default. To answer any of the questions affirmatively, from the Federal Section of the tax return select:
- Income
- Schedule B – Forms 1099-INT, DIV, OID
- Do you have interest in a foreign bank account? – Click this line and evaluate the two statements. If either is true, check the box.
- Check here if at any time during this tax year, you had an interest in or a signature or other authority over a financial account in a foreign country, such as a bank account, securities account, or other financial account.Check here if at any time during the tax year you received a distribution from, or were the grantor of, or transferor to, a foreign trust.
Exclusion of Interest from Series EE & I US Savings Bonds
See here for information on completing Form 8815.
Additional Information: