Question
Neale D. (SSN 394-57-7584) and Judith L. (SSN 746-38-4457) Hamilton file a joint Form 1040. The Hamiltons have no foreign accounts or trusts. During the
Neale D. (SSN 394-57-7584) and Judith L. (SSN 746-38-4457) Hamilton file a joint Form 1040. The Hamiltons have no foreign accounts or trusts. During the year, they received interest and dividends. Using the information provided below, prepare the Hamiltons' Schedule B (Form 1040A or 1040), Interest and Ordinary Dividends.Also, please state the amounts carried forward to 1040A or 1040, lines 8a and 8b
Amounts Reported on Form 1099-INT:Amount
U.S. Treasury bond$ 600
Ace Manufacturing Company note50
AT&T debenture bond60
Bank of America90
State of Michigan municipal (tax-exempt) bond75
City of Meadowood municipal (tax-exempt) bond160
Interest Not Reported on Form 1099-INT:Amount
Interest on the mortgage of Mr. and Mrs. K. J. Roe$ 732
K. R. Smith, personal note115
Amounts Reported on Form 1099-DIV:Amount
Red Corporation dividend on preferred stock$280
USX Corporation dividend on common stock1,341
Dow Chemical Company dividend on common stock185
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started