Schedule B Calculator Apple Numbers Template is a tool used for federal income tax calculations. This template helps to calculate your taxable interest and ordinary dividends that a taxpayer receives during the tax year.
This template has been made for our readers who use Mac operating system. Schedule B is a part of Form 1040 and Form 1040A of Federal Income Tax.
You just need to enter your income in the form of interests and dividends from the respective sources. Schedule B Calculator Apple Numbers Template will automatically calculate the amount for you.
According to IRS, you require to file Schedule B (Form 1040A or 1040) if any of the following applies to you:
To avoid mistake and for the purpose of estimating your tax liability, we have created and simple and easy to use Schedule B Calculator Apple Number Template.
This template can be useful to individuals, couples filing jointly and even freelancers doing taxation work.
Click here to download Schedule B Calculator Apple Number Template.
To download the same calculator in Excel click the link below:
Schedule B Calculator Excel Template
In addition to the above, you can also download other Numbers Templates like Simple Tax Estimator, Itemized Deduction Calculator, AGI Calculator and Section 179 Deduction Calculator
Let us discuss the contents of the template in details.
Schedule B Calculator Apple Number Template reports of 3 types of incomes; Interests, Ordinary Dividends and Foreign Account and Trusts.
You can also find this Schedule B Calculator as a fillable PDF on IRS website. Click below to download the fillable pdf.
Schedule B – Interests and Ordinary Dividends
Income from interest from banks and corporate bonds are subject to income tax. The only exception it has is the interest from Series I and EE savings bonds issued after 1989.
Banks and companies issuing bonds who paying interests report them in form 1099-INT. The brokerage firm can provide you with Form 1099-INT, Form 1099-OID or such other relevant document.
You just need to enter the firm name and respective amount of interests received in Form 1099-INT.
Income from dividends is reported in this section. You need to report the name of the company along with the dividend amount in Part II.
Enter the name of the organization/company paying the dividend and amounts in Part II. The system will automatically subtotal the amount for you.
It is necessary to file Part II of Schedule B, if:
Part-III consists of only yes and no options. Amounts will be reported in respective forms details of which is given below.
FinCEN Form 114 must be filed if you have interest from foreign accounts during the tax year. Form 3520 must be filed if you have been receiving a distribution from or were the grantor of, or transferor to, a foreign trust.
Disclaimer: Interpretation of the above topic is for education purpose and cannot be considered as a legal advice. It is highly recommendable to consult a CPA or tax consultant.
We thank our readers for liking, sharing and following us on different social media platforms.
If you have any queries please share in the comment section below. I will be more than happy to assist you.
To simplify the process, we have created a simple and easy UK VAT Taxable Turnover…
Every business has to register for VAT with HM Revenue and Customs if their VAT…
We have created the UK VAT Dual Currency Invoice excel template with predefined formulas that…
We have created a simple and easy UK VAT Purchase Register Excel Template with predefined…
We have created a simple and easy UK VAT Sales Register Excel Template with predefined…
We have created a ready to use UK VAT Progress Billing Invoice template in excel…