Schedule B - Form 2O 2025

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Most taxpayers only need to file a Schedule B if they receive more than $1,500 of taxable interest or dividends. Taxable interest includes most types of interest earned, but some interest such as from certain municipal bonds can be excluded.
Use Schedule B (Form 1040) if any of the following applies: You had over $1,500 of taxable interest or ordinary dividends. You received interest from a seller-financed mortgage and the buyer used the property as a personal residence. You have accrued interest from a bond.
Schedule B-2 (Form 1065) is used by partnerships to provide the IRS with information about each partners share of income, deductions, and credits. Originally published by irs.gov.
You do not need to include Form 1095-B with your federal or state tax return. But, the IRS and the California State Franchise Tax Board suggest that you save it with your tax records.
Failing to file Schedule B or report foreign accounts can lead to IRS scrutiny and penalties. To avoid costly mistakes, taxpayers should review filing requirements, ensure they file an FBAR if required, and consult a tax professional if unsure. Complete Schedule B correctly to remain in compliance with U.S. tax laws.
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If you receive a Form 1099-B and do not report the transaction on your tax return, the IRS will likely send you a CP2000, Underreported Income notice. This IRS notice will propose additional tax, penalties and interest on this transaction and any other unreported income.

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