Regular interest income is reported to U.S. taxpayers on an IRS Form 1099-INT. Taxable interest is generally subject to your ordinary federal income taxes, and is reported on Schedule B of Form 1040.
In certain cases, you are not required to include a Schedule B, however, you can always choose to include the Schedule B with your return if you wish. In this example, we have a single filing taxpayer with regular interest income from his brokerage account.
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