Dan Chan (SSN 334-63-3456) receives various Form 1099s during the year. He has no foreign accounts or trusts. He receives form 1099-INT and 1099-DIV as follows:
Amounts Reported on Form 1099-INT Amount
Jack Corporation bonds $2,732
Blue Enterprises corporate bond $450
State of Indiana municipal (tax
-exempt) bond $1,650
Amounts Reported on Form 1099 –DIV Amount
Mobil common stock $ 775
ABB Corporation dividend on preferred stock $180
GE dividend reinvested in common stock through
GE’s dividend reinvestment plan $110
Required:
From the information provided above, prepare the Dan’s Schedule B (Form 1040), Interest and Ordinary Dividends.
Show your detailed calculation, or your work
Note:
Prepare Schedule B by hand.