Schedule A & B

Schedule A

Schedule A is used to calculate your itemized deductions such as medical expenses, state income tax, property tax, charitable contributions, mortgage interest and miscellaneous expenses. If your standard deduction is higher than your itemized deductions, use the standard deduction and do not file Schedule A. If you are married and file separate tax returns, you are required to itemize your deductions if your spouse uses itemized deductions on his or her tax return. See the Tax Deduction Dictionary for descriptions of many of the tax deductions available to take on Schedule A.

Schedule B

Schedule B is used if you had over $1,500 in taxable interest or you had over $1,500 in ordinary dividends. Schedule B is also necessary in limited cases that involve seller-financed mortgages, nominee interest or dividends, original issue discount, accrued interest, tax-exempt interest shown on Form 1099-INT, foreign accounts, and the exclusion of interest from series EE U.S. savings bond (college tuition exclusion).

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