1040 Schedules B and D


Schedule B and Schedule D are the forms used to report the more common types of investment income, such as tax exempt, original issue discount (OID), qualified dividends, short-term capital gains, and long-term capital gains. Tax Professionals must understand these different types of income and their tax implications in order to report income correctly and potentially do some tax planning with your clients. Paying close attention to filling out Schedule B and Schedule D will help tax professionals achieve the lowest legal tax liability for your clients.

Learning Objectives

Upon successful completion of this course, you will be able to:

  • identify the conditions requiring a taxpayer to file Schedule B and/or Schedule D
  • identify the different types and sources of interest and dividends reported on Schedule B
  • identify the tax rates applying to taxpayers on ordinary and qualified dividend income given details of a taxpayer's foreign accounts and assets, correctly determine whether an obligation to file Form 8938 and/or FinCEN Form 114 exists
  • identify the information needed to correctly calculate basis and gain or loss on the sale of a home and other capital assets
  • identify taxpayers who are subject to the Net Investment Income Tax and correctly determine their liability

Tax Year: 2022

Designed For

CPAs, EAs, and other tax professionals

Advanced Preparation


WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Find this course for your license:

License or Certification