Support CenterHow to enter more than 6 Interest Payers on Sch B in SureFire?
🔍 How to enter more than 6 Interest Payers on Sch B in SureFire?
If the return includes six or fewer interest income items (all taxable to Federal and state), you can enter them directly on lines 1b-1g. If there are more than six items (or you need a worksheet), you will enter ALL items on the Additional Interest Income statement.
⚠️ Before You Begin
Use the Additional Interest Income statement when any of the following apply:
- There are more than six payers.
- The state return treats the interest differently from the Federal.
- You want to designate ownership of the income to taxpayer, spouse, or joint.
- Any of the interest is a nominee distribution, accrued, tax-exempt, OID adjustment, or ABP adjustment (see IRS Publication 17 or Schedule B instructions for more information).
- There are penalties or withholding on the interest.
- Any of the interest is tax-exempt interest from private activity bonds.
📊 Step-by-Step Guide
Step 1: Enter interest items on the correct place
Use this when you need to enter more than 6 interest income items.
If the return includes six or fewer interest income items, all taxable to Federal and state, enter them on lines 1b-1g.
If there are more than six items, or if you need a worksheet, enter ALL items on the Additional Interest Income statement.
Step 2: Open the Additional Interest Income statement
Use this to access the worksheet from within the Sch B interest section.
You can access the statement by pressing F9 on any line in this section.
Step 3: Understand how the statement totals flow back to Schedule B
Use this to avoid confusion about what appears on Schedule B lines 1b-1g.
Note: The name and amount only calculate back to lines 1b - 1g of Schedule B from the statement when there is a taxable amount on the statement. Example: If you enter $1000 of tax exempt interest on the first line of the Interest Statement, that amount will not be shown on the Schedule B, line 1b.
Step 4: If preparing a state return, review state-specific instructions
Use this when you are entering state adjustments.
If you are preparing a state return, you should consult the instructions for the particular state before using the State Adjust columns on the Interest Income statement.
✅ Tip
If needed, you can duplicate the statement for additional entries by pressing SHIFT+F10.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form