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How would I fill out a SCHEDULE B Tax document with the following information: B) SCHEDULE B - Miscellaneous Gross Income Items Besides the items
How would I fill out a SCHEDULE B Tax document with the following information:
B) SCHEDULE B - Miscellaneous Gross Income Items Besides the items already mentioned, the Clarks had the following cash receipts in 2022.
- Social Security benefits (Andy, $12,000; Sarah, $6,000) * 85% = Gross Taxable Income
- Life insurance proceeds $50,000. The life insurance proceeds concerned a policy owned by Maximilian Clark, which named Andy as sole beneficiary. The receipt of the proceeds came as a complete surprise to Andy.
- Qualified dividend income (reported on separate Forms 1099DIV): o Ragusa Corporation 1,200 o Pelican Power 400
- Interest income (reported on separate Forms 1099INT): o IBM bonds 600 o CD at First National Bank of McKinney 400 o Wells Fargo money market fund 300 o City of Beaumont (TX) general-purpose bonds 9,000
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