IRS Schedule B (Form 1040)
Report your taxable interest and ordinary dividends with Form 1040.
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About IRS Schedule B (Form 1040)
Schedule B, Interest and Ordinary Dividends, is filed with Form 1040 to list the sources and amounts of your taxable interest and ordinary dividends. It is generally required when your interest or dividends pass a threshold, and it also asks about foreign accounts and foreign trusts in Part III.
This page is a general guide and a fillable helper, not tax advice. Always download and file the current official form from the IRS at https://www.irs.gov/forms-pubs/about-schedule-b-form-1040 and confirm the fields and current thresholds match before you file.
Who needs to complete it
- Taxpayers whose taxable interest is over the threshold set on the form.
- Taxpayers whose ordinary dividends are over the threshold set on the form.
- People who received interest or dividends as a nominee for someone else.
- Anyone who had a financial interest in or signature authority over a foreign account.
How to fill out IRS Schedule B (Form 1040)
- 1Enter your name and Social Security number as shown on Form 1040 at the top.
- 2In Part I, list each payer of interest and the amount received from each.
- 3Total the interest amounts and enter the result to carry to your Form 1040.
- 4In Part II, list each payer of ordinary dividends and the amount received from each.
- 5Total the dividend amounts and enter the result to carry to your Form 1040.
- 6In Part III, answer the questions about foreign accounts and foreign trusts.
- 7If you answer yes to a foreign account question, review whether other filings such as an FBAR are required.
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Frequently asked questions
When do I have to file Schedule B?
You generally file Schedule B when your taxable interest or ordinary dividends are over the threshold on the form, or when other listed situations apply such as foreign accounts. This is a general guide, not tax advice, and you should download and file the current official form from the IRS.
Where do the totals go?
The total interest and total ordinary dividends from Schedule B carry to the matching lines on your Form 1040. Follow the current form to see exactly which lines.
Why does Part III ask about foreign accounts?
Part III asks whether you had a foreign financial account or dealings with a foreign trust. A yes answer may mean you have other reporting requirements, so review the current instructions.
Is this the official IRS form?
This is a fillable helper to make completion easier. Always download and file the current official form from the IRS at https://www.irs.gov/forms-pubs/about-schedule-b-form-1040 and confirm the fields match.