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📚 What This Guide Covers

How to enter interest income on Schedule B when there are more than six interest payers.

⚠️ Before You Begin

Have your interest income information ready (including payer totals) before you enter it.

📊 Step-by-Step Guide

Step 1: Enter interest items

If your return includes six or fewer interest income items, enter them on lines 1A-1F.

If you have more than six items (or you need a worksheet), enter ALL items on the Additional Interest Income statement. You can access it by pressing F9 on any line in this section.

Step 2: Use the statement when it applies

You should use the statement if:

• There are more than six payers.
• You need adjustments for interest income treated differently by the state.
• You want to designate ownership to Taxpayer (T), Spouse (S), or Joint (J).
• Some interest is Nominee (N), Tax Exempt (E), Accrued (A), OID Adjustment (O) or ABP Adjustment (B).
• There are penalties or withholding on the interest income.

Step 3: Review totals and state instructions

If you are preparing a state return, consult the instructions for the particular state before using the Interest Income statement.

Totals from the statement flow to the correct lines on Schedule B, and totals from Schedule B flow to Form 1040, 1040A, or 1040EZ.

Tip: If needed, you can duplicate the statement for additional entries by pressing SHIFT+F10.

❌ Common Errors

Don’t use the Additional Interest Income statement unless you have more than six payers or another reason listed in the article.

📞 Still Need Help?

If you are having trouble, contact our support team:

Phone: 1-800-516-9442

Or submit a support ticket