Turbotax didnt include schedule B in my tax return. Now nobody helps or i cannot get refund either

Forum|Forum|6 years ago
March 19, 2020
1 reply
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I finished entering my information including my dividends. It shows my dividends on form 1040. But it did nto include a schedule B. Where is my schedule B???? and although I asked it nobody is helping

And I am a US citizen in a foreign country. (my dividend was from a US source though)

Now nobody helps me, and I cannot get a hold of anyone by phone and the system doesnt call my foreign number and when i tried the keyword "refund from turbotax" it says that I already printed it so it means I ws satisfied so they will not give refund. but NO, I had NOT seen the final printout when I paid and the final printout does NOT include schedule B although it is supposed to and no I am NOT satified and nobody is helping me. I want to see schedule B in my tax return or get a refund. Simple as that! I paid $90 for this!! I can not even talk to anyone !!!

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Best answer by ReginaM

A Schedule B is not necessarily required to be prepared and/or submitted with your tax return. Did you have more than $1,500 of taxable interest or ordinary dividends?

According to the IRS, you need a Schedule B if any of the following applies.

You had over $1,500 of taxable interest or ordinary dividends.
You received interest from a seller-financed mortgage and the buyer used the property as a personal residence.
You have accrued interest from a bond.
You are reporting original issue discount (OID) of less than the amount shown on Form 1099-OID.
You are reporting interest income of less than the amount shown on a Form 1099 due to amortizable bond premium.
You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989.
You received interest or ordinary dividends as a nominee.
You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust.

IRS Schedule B Instructions

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ReginaMAnswer

A Schedule B is not necessarily required to be prepared and/or submitted with your tax return. Did you have more than $1,500 of taxable interest or ordinary dividends?

According to the IRS, you need a Schedule B if any of the following applies.

You had over $1,500 of taxable interest or ordinary dividends.
You received interest from a seller-financed mortgage and the buyer used the property as a personal residence.
You have accrued interest from a bond.
You are reporting original issue discount (OID) of less than the amount shown on Form 1099-OID.
You are reporting interest income of less than the amount shown on a Form 1099 due to amortizable bond premium.
You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989.
You received interest or ordinary dividends as a nominee.
You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust.

IRS Schedule B Instructions

The best and most efficient way for you to connect with the right person to get the help you need is to select the version you are using below.

We're open daily from 5 AM to 9 PM PT.

TurboTax Online

TurboTax mobile app

TurboTax CD/Download software

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abtb00Author

No my interest and dividend is way lower than 1500. and the other things also dont apply to me. So that is why Turbotax didn't include Schedule B automatically?

But then why did the other software I used before Turbotax included schedule B in my tax return? (I stopped using the other software because they showed something else in the wrong line and couldn't fix it) Most importantly on schedule B there are questions line 7a and 8, they don't need to be shown to IRS? (for me they are both "NO" but still)

GiseleD

If you did not meet the requirements to file a Schedule B, then TurboTax did not include it. During the TurboTax interview process, you will be asked questions that help determine if a Schedule B is required. This includes lines 7 and 8. There is a question about foreign accounts/holdings in the interview.

Regarding the other software, I cannot advise on why it included a form that you did not need.

Here are the Schedule B requirements:

Use Schedule B (Form 1040) if any of the following applies:

You had over $1,500 of taxable interest or ordinary dividends.
You received interest from a seller-financed mortgage and the buyer used the property as a personal residence.
You have accrued interest from a bond.
You are reporting original issue discount (OID) in an amount less than the amount shown on Form 1099-OID.
You are reducing your interest income on a bond by the amount of amortizable bond premium.
You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989.
You received interest or ordinary dividends as a nominee.
You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust. Part III of the schedule has questions about foreign accounts and trusts.