Fillable Printable 2010 Form 1040A Or 1040 (Schedule B)

2010 Form 1040A Or 1040 (Schedule B)

SCHEDULE B

(Form 1040A or 1040)

2010

Interest and Ordinary Dividends

Department of the Treasury

Internal Revenue Service (99)

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Attach to Form 1040A or 1040.

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See instructions on back.

OMB No. 1545-0074

Attachment

Sequence No.

Name(s) shown on return

Your social security number

Part I

Interest

(See instructions

on back 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 instructions on back and list

this interest first. Also, show that buyer’s social security number and address

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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 . . . . . . . . . . . . . . . . . . . . .

4 Subtract line 3 from line 2. Enter the result here and on Form 1040A, or Form

1040, line 8a . . . . . . . . . . . . . . . . . . . . . .

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Note. If line 4 is over $1,500, you must complete Part III.

Amount

Part II

Ordinary

Dividends

(See instructions

on back 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.

List name of payer

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6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form

1040, line 9a . . . . . . . . . . . . . . . . . . . . . .

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Note. If line 6 is over $1,500, you must complete Part III.

Part III

Foreign

Accounts

and Trusts

(See

instructions on

back.)

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

7 a

At any time during 2010, did you have 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?

See instructions on back for exceptions and filing requirements for Form TD F 90-22.1 . . . . .

b If “Yes,” enter the name of the foreign country

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8 During 2010, 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 on back . . . . . .

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 17146N Schedule B (Form 1040A or 1040) 2010

Schedule B (Form 1040A or 1040) 2010

Page 2

General Instructions

Section references are to the Internal Revenue Code

unless otherwise noted.

Purpose of Form

Use Schedule B if any of the following applies.

• You had over $1,500 of taxable interest or ordinary

dividends.

• You received interest from a seller-financed

mortgage and the buyer used the property as a

personal residence.

• You have accrued interest from a bond.

• You are reporting original issue discount (OID) in

an amount less than the amount shown on Form

1099-OID.

• You are reducing your interest income on a bond

by the amount of amortizable bond premium.

• You are claiming the exclusion of interest from

series EE or I U.S. savings bonds issued after 1989.

• You received interest or ordinary dividends as a

nominee.

• You had a financial interest in, or signature

authority (or other authority that is comparable to

signature authority) over, a financial account in a

foreign country or you received a distribution from,

or were a grantor of, or transferor to, a foreign trust.

Part III of the schedule has questions about foreign

accounts and trusts.

Specific Instructions

TIP

You can list more than one payer on

each entry space for lines 1 and 5, but

be sure to clearly show the amount paid

next to the payer's name. Add the

separate amounts paid by the payers

listed on an entry space and enter the total in the

“Amount” column. If you still need more space,

attach separate statements that are the same size as

the printed schedule. Use the same format as lines 1

and 5, but show your totals on Schedule B. Be sure

to put your name and social security number (SSN)

on the statements and attach them at the end of your

return.

Part I. Interest

Line 1. Report on line 1 all of your taxable interest.

Taxable interest should be shown on your Forms

1099-INT, Forms 1099-OID, or substitute

statements. Include interest from series EE, H, HH,

and I U.S. savings bonds. List each payer’s name

and show the amount. Do not report on this line any

tax-exempt interest from box 8 or box 9 of Form

1099-INT. Instead, report the amount from box 8 on

line 8b of Form 1040A or 1040. If an amount is

shown in box 9 of Form 1099-INT, you generally

must report it on line 12 of Form 6251. See the

Instructions for Form 6251 for more details.

Seller-financed mortgages. If you sold your

home or other property and the buyer used the

property as a personal residence, list first any

interest the buyer paid you on a mortgage or other

form of seller financing. Be sure to show the buyer’s

name, address, and SSN. You must also let the

buyer know your SSN. If you do not show the

buyer’s name, address, and SSN, or let the buyer

know your SSN, you may have to pay a $50 penalty.

Nominees. If you received a Form 1099-INT that

includes interest you received as a nominee (that is,

in your name, but the interest actually belongs to

someone else), report the total on line 1. Do this

even if you later distributed some or all of this

income to others. Under your last entry on line 1, put

a subtotal of all interest listed on line 1. Below this

subtotal, enter "Nominee Distribution" and show the

total interest you received as a nominee. Subtract

this amount from the subtotal and enter the result on

line 2.

TIP

If you received interest as a nominee,

you must give the actual owner a Form

1099-INT unless the owner is your

spouse. You must also file a Form 1096

and a Form 1099-INT with the IRS. For

more details, see the General Instructions for Certain

Information Returns (Forms 1098, 1099, 3921, 3922,

5498, and W-2G) and the Instructions for Forms

1099-INT and 1099-OID.

Accrued interest. When you buy bonds between

interest payment dates and pay accrued interest to

the seller, this interest is taxable to the seller. If you

received a Form 1099 for interest as a purchaser of a

bond with accrued interest, follow the rules earlier

under Nominees to see how to report the accrued

interest. But identify the amount to be subtracted as

“Accrued Interest.”

Original issue discount (OID). If you are reporting

OID in an amount less than the amount shown on

Form 1099-OID, follow the rules earlier under

Nominees to see how to report the OID. But identify

the amount to be subtracted as “OID Adjustment.”

Amortizable bond premium. If you are reducing

your interest income on a bond by the amount of

amortizable bond premium, follow the rules earlier

under Nominees to see how to report the interest.

But identify the amount to be subtracted as “ABP

Adjustment.”

Line 3. If, during 2010, you cashed series EE or I

U.S. savings bonds issued after 1989 and you paid

qualified higher education expenses for yourself,

your spouse, or your dependents, you may be able

to exclude part or all of the interest on those bonds.

See Form 8815 for details.

Part II. Ordinary Dividends

TIP

You may have to file Form 5471 if, in

2010, you were an officer or director of

a foreign corporation. You may also

have to file Form 5471 if, in 2010, you

owned 10% or more of the total

(a) value of a foreign corporation’s stock, or (b)

combined voting power of all classes of a foreign

corporation’s stock with voting rights. For details,

see Form 5471 and its instructions.

Line 5. Report on line 5 all of your ordinary

dividends. This amount should be shown in box 1a

of your Forms 1099-DIV or substitute statements.

List each payer’s name and show the amount.

Nominees. If you received a Form 1099-DIV that

includes ordinary dividends you received as a

nominee (that is, in your name, but the ordinary

dividends actually belong to someone else), report

the total on line 5. Do this even if you later

distributed some or all of this income to others.

Under your last entry on line 5, put a subtotal of all

ordinary dividends listed on line 5. Below this

subtotal, enter “Nominee Distribution” and show the

total ordinary dividends you received as a nominee.

Subtract this amount from the subtotal and enter the

result on line 6.

TIP

If you received dividends as a nominee,

you must give the actual owner a Form

1099-DIV unless the owner is your

spouse. You must also file a Form 1096

and a Form 1099-DIV with the IRS. For

more details, see the General Instructions for Certain

Information Returns (Forms 1098, 1099, 3921, 3922,

5498, and W-2G) and the Instructions for Form

1099-DIV.

Part III. Foreign Accounts and

Trusts

Line 7a. Check the “Yes” box on line 7a if either (1)

or (2) below applies.

1. You own more than 50% of the stock in any

corporation that owns one or more foreign bank

accounts.

2. At any time during 2010 you had a financial

interest in, or signature authority (or other authority

that is comparable to signature authority) over, a

financial account in a foreign country (such as a

bank account, securities account, or other financial

account).

TIP

For line 7a, item (2) does not apply to

foreign securities held in a U.S.

securities account.

Exceptions. Check the “No” box if any of the

following applies to you.

• The combined value of the accounts was $10,000

or less during the whole year.

• The accounts were with a U.S. military banking

facility operated by a U.S. financial institution.

• You were an officer or employee of a commercial

bank that is supervised by the Comptroller of the

Currency, the Board of Governors of the Federal

Reserve System, or the Federal Deposit Insurance

Corporation; the account was in your employer’s

name; and you did not have a personal financial

interest in the account.

• You were an officer or employee of a domestic

corporation with securities listed on national

securities exchanges or with assets of more than

$10 million and 500 or more shareholders of record;

the account was in your employer’s name; you did

not have a personal financial interest in the account;

and the corporation’s chief financial officer has given

you written notice that the corporation has filed a

current report that includes the account.

See Form TD F 90-22.1 to find out if you are

considered to have a financial interest in or signature

authority (or other authority that is comparable to

signature authority) over, a financial account in a

foreign country (such as a bank account, securities

account, or other financial account). You can get

Form TD F 90-22.1 by visiting the IRS website at

www.irs.gov/pub/irs-pdf/f90221.pdf.

If you checked the “Yes” box on line 7a, file Form

TD F 90-22.1 by June 30, 2011, with the Department

of the Treasury at the address shown on that form.

Do not attach it to your tax return.

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CAUTION

If you are required to file Form TD F

90-22.1 but do not do so, you may have

to pay a penalty of up to $10,000 (more

in some cases).

Line 7b. If you checked the “Yes” box on line 7a,

enter the name of the foreign country or countries in

the space provided on line 7b. Attach a separate

statement if you need more space.

Line 8. If you received a distribution from a foreign

trust, you must provide additional information. For

this purpose, a loan of cash or marketable securities

generally is considered to be a distribution. See

Form 3520 for details.

If you were the grantor of, or transferor to, a

foreign trust that existed during 2010, you may have

to file Form 3520.

Do not attach Form 3520 to Form 1040. Instead,

file it at the address shown in its instructions.

If you were treated as the owner of a foreign trust

under the grantor trust rules, you are also

responsible for ensuring that the foreign trust files

Form 3520-A. Form 3520-A is due on March 15,

2011, for a calendar year trust. See the Instructions

for Form 3520-A for more details.