Sally and Charles Heck received the following dividends and interest during 2012: Assuming the Hecks file a
Question:
Sally and Charles Heck received the following dividends and interest during 2012:
Assuming the Hecks file a joint tax return, complete Schedule B of Form 1040 (on page 2-33) for them for the 2012 tax year. Do not attempt to complete the Qualified Dividends and Capital Gain Tax Worksheet.
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Sally Charks Jointly Charles Oiying divilends: $850 General Motors IBM Gene Corporation Wilson Corporation $2,100 $3,250 750 Interest Di Bx Bank First National Bank 1,250 750 SCHEDULE B (Form 1040A or 1040) OMB No. 1545 0074 Interest and Ordinary Dividends 2012 No. 08 Attach to Form 1040A or 1040 Department of the Treasury Internal Revense Service Information about Schedule B (Form 10404 or 10400 and its instruotions is at www.irs.govform 1040. Namela) shown on return Your social security number Part l 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 Interest See instructions on back and the instructions for Form 1040A, or Form 1040 line Ba.) Note. If you received a Form 099-INT, Form 099-OID, or substitute statement from a brokerage firm, st the firm's name as the peryer and enter 2 Add the amounts on lina 1 Excludable interest on series EE and U.S. savings bonds issued after 1989. Attach Form 8815. . shown on that fom 4 Subtract line 3 from line 2. Enter the result here and on Form 1040A, or Form 1040, line 8a Note. If line 4 is over $1 5 List name of payor Part I Amount Part II Ordinary Dividends See instructions on back and the Form 1040A, or Form 1040, ine 9a.) Note, If 1099-DIY or statement from ist the firm's name as the peyer and enter the ordinary dividends ehownAdod on that fom 6 Add the amounts on line 5. Enter the total here and on Form 10404, or Form must co Part Ill 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. 7a Part III Foreign Accounts and Trusts At any time during 2012, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? See instructions If Yes," are you required to file Form TD F 90-22.1 to report that financial interest or signature authority? See Form TD F 90-22.1 and its instructions for filing requirements and exceptions to those requirements If you are required to file Form TD F 90-22.1, enter the name of the foreign country where the financial account is located instructions on b 8 During 2012, did you recelve a distribution from, or were you the grantor of, or transferor to, a trust? If Yes. have to file Form 3520. See instructions on back For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17148N Schedule B (Form 1040A or 1040) 2012
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1 Enter the total amount of social security income 1 6000 2 Enter onehalf of line 1 2 3000 3 Enter the total of taxable income items on Form 1040 except social security income 3 18000 4 Enter the amou...View the full answer
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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