11b – Schedule B – Interest and Ordinary Dividends (Attach to Form 1040/1040-SR)

📘 Schedule B – Interest and Ordinary Dividends (Attach to Form 1040/1040-SR):-

🔹 Purpose :-
Reports taxable interest and dividend income exceeding certain thresholds.

🔹 Key Points :-
1.   Part I – Interest income (bank accounts, bonds, notes).
2.   Part II – Ordinary dividend income (stocks, mutual funds).

🔹 When Required :-
You must file Schedule B if:
• Interest > $1,500
• Dividends > $1,500
• Foreign accounts/trusts involved
• You receive dividends as a nominee.

🔹 Why It Matters :-
Ensures proper taxation of passive income and compliance with foreign account reporting rules.

📅 Filing
Attach with Form 1040/1040-SR when thresholds are met.