Fill out Schedule B (Interest and Ordinary Dividends) online
Schedule B is used to report interest and ordinary dividend income when the total from either category exceeds $1,500. It also includes questions about foreign accounts and foreign trusts that may trigger additional reporting requirements.
How to fill out Schedule B (Interest and Ordinary Dividends)
List interest income (Part I)
Enter the name of each payer and the amount of interest received. Include interest from banks, savings accounts, CDs, bonds, and seller-financed mortgages. Total all interest on line 4.
List ordinary dividends (Part II)
Enter the name of each payer and the amount of ordinary dividends received. This information comes from Form 1099-DIV. Total all dividends on line 6.
Answer foreign account questions (Part III)
Indicate whether you had a financial interest in or signature authority over a foreign financial account. If yes, you may need to file FinCEN Form 114 (FBAR). Also answer whether you received a distribution from a foreign trust.
Transfer totals to Form 1040
Enter the Part I total (interest) on Form 1040, line 2b. Enter the Part II total (dividends) on Form 1040, line 3b. These amounts are included in your total income calculation.
About Schedule B (Interest and Ordinary Dividends)
Who needs this form
Taxpayers who received more than $1,500 in taxable interest or more than $1,500 in ordinary dividends during the tax year. It is also required if you have a financial interest in or signature authority over a foreign financial account, or received a distribution from or were a grantor of a foreign trust.
Where to submit
Attach Schedule B to your Form 1040 when filing. The interest total from Part I transfers to Form 1040, line 2b, and the dividend total from Part II transfers to Form 1040, line 3b.
Source and content freshness
- Reviewed: 2026-02-24
- Check the latest official form instructions for the filing year that applies to you.
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Not listing each payer separately when reporting interest and dividends
- Forgetting to report interest from savings accounts, CDs, and money market funds
- Not answering the foreign accounts and trusts questions in Part III
- Omitting tax-exempt interest that still needs to be reported on Form 1040 (line 2a) even though it is not taxable
Frequently asked questions
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Do I need Schedule B if my interest is under $1,500?
Generally no. If your total taxable interest is $1,500 or less and your total ordinary dividends are $1,500 or less, you can report these amounts directly on Form 1040, lines 2b and 3b, without filing Schedule B. However, you must file Schedule B if you have a foreign account or foreign trust, regardless of the amounts.
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