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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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