Accounting 3020: 2017 Schedule B - Interest and Ordinary Dividends

This document presents a completed Schedule B (Form 1040A or 1040) for the year 2017, focusing on the reporting of interest and ordinary dividends. The schedule includes details such as the payer's name (e.g., USA Bank) and the corresponding interest amounts. It demonstrates the calculation of taxable interest by subtracting any excludable interest on series EE and I U.S. savings bonds. The form also covers the reporting of ordinary dividends and includes a section on foreign accounts and trusts, addressing whether the filer had a financial interest in or signature authority over a foreign account or received distributions from a foreign trust. This solved assignment helps students understand how to accurately fill out Schedule B and can be used as a reference for similar tax-related problems. Desklib provides a variety of solved assignments and past papers for students.

SCHEDULE B
(Form 1040A or 1040)
Department of the Treasury
Internal Revenue Service (99)
Interest and Ordinary Dividends
▶ Attach to Form 1040A or 1040.
▶ Go to www.irs.gov/ScheduleB for instructions and the latest information.
OMB No. 1545-0074
2017Attachment
Sequence No.08
Name(s) shown on return Your social security number
Part I
Interest
(See instructions
and the
instructions for
Form 1040A, or
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.
1 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▶
1
Amount
2 Add the amounts on line 1 .. . . . . . . . . . . . . . . . . . 2
3 Excludable interest on series EE and I U.S. savings bonds issued after 1989.
Attach Form 8815 .. . . . . . . . . . . . . . . . . . . . . 3
4 Subtract line 3 from line 2. Enter the result here and on Form 1040A, or Form
1040, line 8a . . . . . . . . . . . . . . . . . . . . . . ▶ 4
Note: If line 4 is over $1,500, you must complete Part III. Amount
Part II
Ordinary
Dividends
(See instructions
and the
instructions for
Form 1040A, or
Form 1040,
line 9a.)
Note: If you
received a Form
1099-DIV or
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the ordinary
dividends shown
on that form.
5 List name of payer▶
5
6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form
1040, line 9a . . . . . . . . . . . . . . . . . . . . . . ▶ 6
Note: If line 6 is over $1,500, you must complete Part III.
Part III
Foreign
Accounts
and Trusts
(See instructions.)
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.
Yes No
7a 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▶
8 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. See instructions .. . . . . . . .
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040A or 1040) 2017
Bob Jones 512-60-4444
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