|
#2
01-25-2006, 10:43 PM
| |||
| |||
 Re: Schedule B: Is it necessary to complete all parts? - quote - > Fill the form out completely, detailing each 1099. The IRS
I second this. You need an entry on B or D for every 1099> checks Schedule B entries against the 1099s it has on file. > Entering all the detail on the return may avoid later > correspondence with the IRS. entry. When I miss one I hear from the tax agencies, usually the state first. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#1
01-24-2006, 11:26 PM
| |||
| |||
| Re: Schedule B: Is it necessary to complete all parts? deja_bhoot2000[at]yahoo.com wrote: - quote - > Schedule B, Form 1040 of US Federal taxes has three parts:
Fill the form out completely, detailing each 1099. The IRS> Part 1: Interest Income > Part 2: Dividend Income > Part 3: Certification about some foreign accounts/trusts > My interest income for 2005 is only about $300, but the > dividend income is more than $1500. In this case, do I need > to fill all 3 parts, or can I only fill in parts 2 and 3? > Also, how much detail do I need to put? If a bank sends me > two 1099s (one for CD, one for savings account, say), do I > need to enter it as two separate items? Or can I add it all > together? Conversely, if a different payer send me a single > dividend statement, but it has dividends for 4 separate > accounts listed as 4 lines, do I need to list each one > separately? checks Schedule B entries against the 1099s it has on file. Entering all the detail on the return may avoid later correspondence with the IRS. Katie in San Diego << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
01-24-2006, 10:25 PM
| |||
| |||
| Re: Schedule B: Is it necessary to complete all parts? deja_bhoot2000[at]yahoo.com wrote: - quote - > Schedule B, Form 1040 of US Federal taxes has three parts:
Since you have to file Schedule B anyway, why not use Part> Part 1: Interest Income > Part 2: Dividend Income > Part 3: Certification about some foreign accounts/trusts > My interest income for 2005 is only about $300, but the > dividend income is more than $1500. In this case, do I need > to fill all 3 parts, or can I only fill in parts 2 and 3? 1. Your concern seems trivial. - quote - > Also, how much detail do I need to put? If a bank sends me
You can do it either way. Personally, I prefer to have the> two 1099s (one for CD, one for savings account, say), do I > need to enter it as two separate items? Or can I add it all > together? Conversely, if a different payer send me a single > dividend statement, but it has dividends for 4 separate > accounts listed as 4 lines, do I need to list each one > separately? details right in my tax records. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
01-24-2006, 04:21 AM
| |||
| |||
| Schedule B: Is it necessary to complete all parts? Schedule B, Form 1040 of US Federal taxes has three parts: Part 1: Interest Income Part 2: Dividend Income Part 3: Certification about some foreign accounts/trusts My interest income for 2005 is only about $300, but the dividend income is more than $1500. In this case, do I need to fill all 3 parts, or can I only fill in parts 2 and 3? Also, how much detail do I need to put? If a bank sends me two 1099s (one for CD, one for savings account, say), do I need to enter it as two separate items? Or can I add it all together? Conversely, if a different payer send me a single dividend statement, but it has dividends for 4 separate accounts listed as 4 lines, do I need to list each one separately? Thanks! Bhoot Nath << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| complete, parts, schedule |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| can you password protect parts of money? Spam Spam Bacon Spam: I would like to have my office helper enter credit card receipts into my personal Money software, but don't want her to be able to see other bits of... | Microsoft Money | 3 | 08-28-2007 09:14 PM | |
| Money only downloads parts of my quotes Gabriele: Even though I found the symbols for all the investments I entered through the search feature of MS Money it only updates part of it. For some... | Microsoft Money | 1 | 09-27-2004 03:44 PM | |
| EFile vs. Really long Schedule D or Attached Schedule Jo Firey: OK I'll admit I haven't been paying attention. (I did try to google to get the answer) What is the current consensus of a return that has so... | Taxes | 5 | 04-12-2004 09:35 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
