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Complete Schedule B, Part III, when Foreign Accounts and Trusts is blank

You only have to complete Schedule B, Part III, Foreign Accounts and Trusts if the return has less than $1,500 in taxable interest or ordinary dividend income.
If Schedule B, Part III is blank but the return has $1,500 or more in taxable interest or ordinary dividends, complete these steps:
  1. Go to the
    Income
     folder and select the
    B&D
     screen.
  2. Complete the fields in the
    Schedule B - Miscellaneous Information
     section.
  3. You can complete Schedule B, Part III, Foreign Accounts and Trusts, even though the return has less than $1,500 in taxable interest or ordinary dividends. Select
    Setup
    , then
    1040 Individual
    .
  4. Select
    Other Return Options
    , then the
    Return Presentation
     tab.
  5. Clear the
    Leave Schedule B, Part III foreign account questions blank, unless required
     checkbox.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Foreign income
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