Special Situations

If any of the following items apply to you, you'll have to complete Schedule B of Form 1040 or Form 1040A, even if you received $1,500 or less in total interest and dividends:

• seller financed mortgage
• nominee interest
• original issue discount (OID) on bonds
• accrued interest or amortizable bond premiums
• Series EE U.S. Savings Bond used for higher education expenses

Also, if you had a foreign investment account, or you were a beneficiary, grantor, or transferor to a foreign trust, you must complete Part III of Schedule B regardless of the amount of total interest and dividend income.

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