Wages, Interest, Dividends, and 1099 Reporting

Free IRS Enrolled Agent SEE Part 1 (Individuals) lesson in Income and Assets. 14 min read, ~2,054 words.

Wages from W-2 box 1 flow to Form 1040 line 1a; tips, bonuses, severance, and fringes are wages unless statutorily excluded. Schedule B is required when interest OR dividends exceed \$1,500, or when there is a foreign account (which triggers Part III regardless of amount). Treasury interest is state-tax-exempt; muni...