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Schedule B will be generated if it is required. It is required only if any of the following applies to your client:
Taxable interest or ordinary dividends total over $1,500;
Received interest from a seller-financed mortgage and the buyer used the property as a personal residence;
Had accrued interest from a bond;
Reporting OID of less than amount shown on 1099-OID;
Reporting interest income of less than amount shown on a Form 1099 for bond premium amortization;
Claiming exclusion of interest from series EE or I U.S. savings bonds issued after 1989;
Received interest or ordinary dividends as a nominee;
Had a financial interest in, or signature authority over, a financial account in a foreign country or received a distribution from, or were a grantor of, or transferor to, a foreign trust.
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