Schedule 1 (1040 A Interest and Ordinary Dividendsfor Form 1040A Filers

Schedule 1

Department of the Treasury—Internal Revenue Service

(Form 1040A)

Interest and Ordinary Dividends
for Form 1040A Filers

2007

Note. If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a
brokerage firm, enter the firm’s name and the total interest shown on that form.

Part I
Interest
(See back
of schedule
and the
instructions
for Form
1040A,
line 8a.)

1

List name of payer. If any interest is from a seller-financed mortgage
and the buyer used the property as a personal residence, see back of
schedule and list this interest first. Also, show that buyer’s social
security number and address.

Amount
1

2
3
4

Add the amounts on line 1.
Excludable interest on series EE and I U.S. savings bonds issued
after 1989. Attach Form 8815.
Subtract line 3 from line 2. Enter the result here and on Form 1040A,
line 8a.

2
3
4

Note. If you received a Form 1099-DIV or substitute statement from a brokerage firm,
enter the firm’s name and the ordinary dividends shown on that form.

Part II
Ordinary
dividends

OMB No. 1545-0074
Your social security number

Name(s) shown on Form 1040A

5

List name of payer.

Amount
5

(See back
of schedule
and the
instructions
for Form
1040A,
line 9a.)

6

Add the amounts on line 5. Enter the total here and on Form 1040A,
line 9a.

For Paperwork Reduction Act Notice, see Form 1040A instructions.

Cat. No. 12075R

6
Schedule 1 (Form 1040A) 2007

Schedule 1 (Form 1040A) 2007

Purpose of Schedule
Use Schedule 1 if any of the following apply.
● You had over $1,500 of taxable interest (fill in Part I).
● You received interest from a seller-financed mortgage and
the buyer used the property as a personal residence (fill in
Part I).
● You are claiming the exclusion of interest from series EE
or I U.S. savings bonds issued after 1989 (fill in Part I).
● You received interest as a nominee (fill in Part I).
● You had over $1,500 of ordinary dividends or you
received ordinary dividends as a nominee (fill in
Part II).
If you need more space to list your interest or
ordinary dividends, attach separate statements
TIP
that are the same size as Schedule 1. Use the
same format as lines 1 and 5, but show your
totals on Schedule 1. Be sure to put your name and social
security number on the statements and attach them at the
end of your return.

Part I
Interest

Line 1
Report on line 1 all of your taxable interest. Interest should
be shown on your Forms 1099-INT, Forms 1099-OID, or
substitute statements. Include interest from series EE and I
U.S. savings bonds. List each payer’s name and show the
amount.
Seller-financed mortgages. If you sold your home or other
property and the buyer used the property as a personal
residence, list first any interest the buyer paid you on a
mortgage or other form of seller financing. Be sure to show
the buyer’s name, address, and social security number (SSN).
You must also let the buyer know your SSN. If you do not
show the buyer’s name, address, and SSN, or let the buyer
know your SSN, you may have to pay a $50 penalty.
Nominees. If you received a Form 1099-INT that includes
interest you received as a nominee (that is, in your name,
but the interest actually belongs to someone else), report the
total on line 1. Do this even if you later distributed some or
all of this income to others. Under your last entry on line 1,
put a subtotal of all interest listed on line 1. Below this
subtotal, enter “Nominee Distribution” and show the total
interest you received as a nominee. Subtract this amount
from the subtotal and enter the result on line 2.

Page

2

If you received interest as a nominee, you
must give the actual owner a Form 1099-INT
TIP
unless the owner is your spouse. You must
also file a Form 1096 and a Form 1099-INT
with the IRS. For more details, see the General Instructions
for Forms 1099, 1098, 5498, and W-2G and Instructions for
Forms 1099-INT and 1099-OID.

Line 3
Did you cash series EE or I U.S. savings bonds in 2007 that
were issued after 1989? If you did and you paid qualified
higher education expenses in 2007 for yourself, your spouse,
or your dependents, you may be able to exclude part or all
of the interest on those bonds. See Form 8815 for details.

Part II
Ordinary Dividends

Line 5
Report on line 5 all of your ordinary dividends. Ordinary
dividends should be shown in box 1a of your Forms
1099-DIV or substitute statements. List each payer’s name
and show the amount.
Nominees. If you received a Form 1099-DIV that includes
ordinary dividends you received as a nominee (that is, in
your name, but the ordinary dividends actually belong to
someone else), report the total on line 5. Do this even if you
later distributed some or all of this income to others. Under
your last entry on line 5, put a subtotal of all ordinary
dividends listed on line 5. Below this subtotal, enter
“Nominee Distribution” and show the total ordinary
dividends you received as a nominee. Subtract this amount
from the subtotal and enter the result on line 6.
If you received dividends as a nominee, you
must give the actual owner a Form 1099-DIV
TIP
unless the owner is your spouse. You must
also file a Form 1096 and a Form 1099-DIV
with the IRS. For more details, see the General Instructions
for Forms 1099, 1098, 5498, and W-2G and Instructions for
Form 1099-DIV.