Question
What is Schedule B income (Interest and dividends)? Using the given information Paul owns several other investments and received the following information reports for the
What is Schedule B income (Interest and dividends)? Using the given information
Paul owns several other investments and received the following information reports for the current tax year:
Form 1009-Div:
General Dynamics Gross qualified dividends - $600
Form 1099-Int
New Jersey Economic Development bonds Gross interest - $300
IBM bonds Gross interest - $600
State of Nebraska bonds Gross Interest - $200
Form 1098-Mortgage Interest Statement
Sunbelt Credit Union Mortgage interest - $7,100
Northeast Bank Home-equity loan interest - $435
Form K-1 Grubstake Mining and Development:
Distribution to shareholder - $1,000
Ordinary income (1% of $200,000) - $2,000
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