Form 1040 (Schedule B) and Form 1040: Basics
Schedule B: Interest and Ordinary Dividends Definition
This is where you enter your earnings or capital gains and specify all of your investments' amounts, including the total of all your investments. Schedule B schedules are usually filed with your taxes. If you're not sure which Schedule B schedule you need, use our free tax software. For tax year 2017, Schedule B's often are needed to keep track of taxes on interest and dividend distributions from certain partnerships (see “If this is information you need” box at top). See “The Dividend Tax Basics” section below for more information. Schedule B schedules are also used by brokers when selling mutual fund investments. These Schedule B forms often have a box that needs to be checked to keep track of the timing of the distributions from a partnership (see “The Dividend Tax Basics” box at top). However, these forms are used less often than Schedule D's in general, and can be filed with a Form 1099-DIV. For more information on Schedule B schedules, see “Understanding the Internal Revenue Code.” When to Use a Schedule B What time of year do you need your Schedule B? If you plan to use the Schedule B when you file your taxes, you can usually do this without any problems. This is because a filing date is usually given by law, usually around April 15, for the first installment (usually, but not always, a first payment for taxable income). If you plan to use a Schedule B when filing your taxes, you will probably need to wait until January 31 to file your taxes, before the next installment of tax can be made on February 28. Since Schedule B schedules are usually filed in early April, you generally don't need to wait until the following tax year to file a Schedule B. If your dividends come from a fund that is considered a qualified fund, or if you received a distribution on an annuity that meets the requirements for a qualified annuity, you're generally supposed to file a Schedule D (or a Form 1099-DIV) with your taxes on the first date any of these happen. If you don't want to file Schedule D at that time, or if you need to wait a year before filing the Schedule D first, you can put together a Schedule B before the following tax year. The Dividend Tax Basics Why do dividends cost tax? In some cases, your dividends aren't taxed, because they're exempt, or because they're capital gains or qualified
Form 1040: U.S. Individual Tax Return Definition, Types, and Use
A “tax return,” then, must be submitted to the IRS by an individual filing taxes for the year. This form is sent to the IRS by a taxpayer during the taxpayer's monthly tax response period, which is the time from the due date of filing the return to the payment of all the taxes due. The IRS uses its own rules when it determines which taxpayers fall within the monthly tax response period. Forms for Forms 1040 (Tax Returns) and 1040NR Use Form 1040, which can be mailed to the IRS or mailed to the address on the form. Form 1040 (Tax Returns) or Form 1040NR (NR1040NR) Form 1040, or Form 1040NR, can be sent to a tax processing facility in one of the following ways: The taxpayer can mail both forms directly to the IRS. Mail the form with an itemized statement of income and expenses to the address on the form. (See U.S. Filing Tips at page 7 for information on mailing the form in person.) Mail the form with an itemization statement of income and expenses to the address on the form. The taxpayer also can mail the form electronically to the address on the form using the IRS' Secure Access for E-File Users (SAFE) service. . The IRS can mail both forms directly to the taxpayer. Mail the form with an itemized statement of income and expenses to the address on the form. The taxpayer also can mail the form electronically to the address on the form within 3 or 45 days of the taxpayer's filing due date. To help taxpayers with complicated transactions, or who have questions about mailers for electronic filing, ask them about the Electronic Data Retrieval Service (EARS) (Form W-6). Forms for Forms 1120, 1040A and 1040NR Use Form 1120, which can be mailed to the IRS or mailed to the address on the form. Form 1120 (Tax Forms) In some cases, taxpayers may still want to complete one form for both the 1040 and the 1120 form that the taxpayers filed using a different address on the 1040. Form 1120 should not be used only if the taxpayer did not use a different address on the 1040 and the 1120 forms. When filing the 1040 and 1120 together, send both forms as a single PDF, not one single
Award-winning PDF software
