What Is Schedule B?

Schedule B is used to report interest income exceeding $1,500 or dividend income exceeding $1,500 from all sources. You list each payer and the amount separately. It attaches to your Form 1040. Schedule B also asks whether you have a financial interest in a foreign bank account or signature authority over one — relevant for FBAR purposes. For smaller amounts of interest or dividends, you can report them directly on Form 1040 without Schedule B.