Download Schedule B Calculator Template In Excel

Schedule B Calculator is excel template that consists of calculations of taxable interest and ordinary dividends under Schedule B of Form 1040 and 1040A for the federal income tax.

Interests and dividend incomes received during the tax year are posted in Schedule B.

It is not mandatory to file a Schedule B for taxpayer every year. A taxpayer requires filing the Schedule B only when they receives interest and dividend above a certain threshold.

Who needs to file Schedule B tax form?

According to IRS, you require to file Schedule B (Form 1040A or 1040).For the purpose of ease of understanding and avoiding mistakes, we have created an excel template Schedule B Calculator considering all the points.

IRS Schedule B Calculator

Moreover, Schedule B consist of 3 sections:

  1. Interest – Part I
  2. Ordinary Dividend – Part II
  3. Foreign Accounts and Trusts – Part III

1. Interests – Part I (Tax Schedule B)

Usually, all types of interest are subject for federal income tax except Interest earned on Series I and EE savings bonds issued after 1989.

Therefore, These interests include interest from bank savings accounts, investment in corporate bonds etc.

1099 provides you a relevant details to fill in Schedule B.

Simply enter the relevant description as well as amounts in respective cells in Part I. It will automatically make subtotals with a predefine formula using the SUM Function.

As Interests earned on Series I and EE savings bond are not subject to federal income tax, it will deduct from the interest amounts.

2. Ordinary Dividends – Part II

Dividends refer to rewards in the form of cash or shares are given by a company to its shareholders. Similar to interests, if total dividends income exceeds a certain threshold, it is mandatory to file Schedule B.

Also, you need to report the dividends along with the name of the company that has paid dividends.

Enter the name of the organization/company paying the dividend and the amounts in Part II. The system will automatically subtotal the amount for you.

3. Foreign Accounts and Trusts – Part III

A taxpayer must complete Part III, if :

(a) has the taxable interest or dividends over $1,500;

(b) has a foreign account

(c) has received a distribution from, or were a grantor or a transferor to, a foreign trust.

Download this Schedule B Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Schedule B Calculator Excel Template

Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Download Free Editable Excel Templates | Popular Templates

Catering Quotation Template

Catering Quotation

Introduction: Crafting Effective Catering Quotations A catering quotation is an essential document for any catering business, offering a detailed proposal for food services for events

Read More »
Work Order Invoice Format

Work Order Invoice

Work Order Invoice Template: Efficient and Detailed Billing for Specific Tasks In businesses where tasks are clearly defined and structured, it’s crucial that the invoicing

Read More »
Work Contract Service Invoice Template

Work Contract Service Invoice

Work Contract Service Invoice Template: Ensuring Transparency in Contractual Billing In the realm of contractual services, clear communication, and precise documentation is paramount. Our Work

Read More »
US Customs Invoice

US Customs Invoice

US Customs Invoice Template: A Key to Unlocking Smooth International Transactions Engaging in international trade demands meticulous adherence to various customs regulations and documentation. This

Read More »
Tree Trimming Invoice Format

Tree Trimming Invoice

Tree Trimming Invoice Format: Detailed Billing for Tree Care Projects Tree trimming and care is an art that requires precision, skill, and a keen eye

Read More »

Free editable professional Excel templates can be a useful tool for businesses, organizations, and individuals looking to streamline their data management and reporting processes. These templates can provide a pre-designed and pre-formatted framework for storing and organizing data, as well as for creating charts, graphs, and other visualizations to help communicate that data more effectively.

One advantage of using professional Excel templates is that they are often designed by experienced professionals who understand best practices for data management and visualization. This means that the templates are likely to be well-organized, easy to understand, and aesthetically pleasing, which can make working with them more efficient and enjoyable.

Another advantage is that these templates are often fully editable, allowing users to customize them to meet the specific needs of their organization or project. This can include adding or deleting rows and columns, changing the formatting and layout, and adding custom formulas and functions.

Some examples of professional Excel templates that may be available for free include budgeting templates for personal or business use, project management templates for tracking tasks and deadlines, and sales tracking templates for analyzing and forecasting sales data. There are also a wide variety of templates available for specific industries, such as real estate, marketing, human resource, Payroll management and among others.

Overall, free editable professional Excel templates can be a valuable resource for anyone looking to improve their data management and analysis skills. By providing a pre-designed and customizable framework for storing, organizing, and visualizing data, these templates can help users save time and make more informed decisions.