 of all that boom schedule the 500 from there so there we go so bottom line it's back it's up to the one thousand five twelve nine fifty standard deduction eighty seven five fifty looks movie be to the end page two and fourteen eight eight four on the tax now so fourteen one four eight eight four okay let's imagine and then we had a tax exempt income over here back to page one on the interest just to make a little bit more complication of things just to complicate things a bit and we'll say that would be in like box eight we have that tax exempt kind of thing if I go back on over I'm going to say let's say that was from another financial institution I'm just going to say bank two it's got municipal bonds we'll say and let's say that they were uh total uh tax exempt interest let's say that was 200 or whatever so then if I pull that on over I'm going to say 200 tax exempt so now we've got the tax exempt interest at the 200 and the taxable interest at the 500 and the 200 is not changing any of my calculation because it's it's reported I'm showing the IRS I'm saying hey this is what's on the W2 I'm telling you it's there but it's not including because it's exempt I said it was exempt so we're still at the eighty seven five five zero even though we put that there eighty seven five five zero page two is at the fourteen eight eight four just as it was before so now let's go back on over and say let's bring it over the threshold of uh of 1500 so schedule b will populate over here so let's go back on over and let's make another one and say this is bank three bank three and we'll say that we had another 1000 so so let's say let's say 1200 that should take me over the threshold well over the threshold so I'm going to say forms so now we still have the 200 exempt 1700 like we would expect but we also see the sub schedule now populating populating a gigantic cause which is the schedule b so remember when you think interest income you think schedule b but the actual schedule b will only be necessary if your interest income is significant material enough for the iris to say we want you to include a separate schedule listing out the institutions that actually page you in a more detailed way that amount is going to be 1500 so uh so here's that so we've got the bank and the interest that adds up to the 1700 which of course pulls in to the first page of the 1040 so now we're at the 1007 if I go back to my data input over here and was to mirror that I could add another schedule for like bank bank uh two for the exempt portion I just want to make sure it's outside maybe I put that out here somewhere like 200 you know out here 200 or something you know and I might have tax exempt uh dividends so I might uh or or or non qualified non qualified dividends and stuff that I might want to break out so maybe I say this is exempt just for data just so I could see the exempt portion and then I could say bank three three was for uh what what did I say 1200 and so the total exempt is over here I'll sum it up sum it up little darling sorry about that so any case that adds up to the 1007 pulling over so now we're at the 1017 minus the 12,050 88,950 88,950 is what is down 88,750 I'm at 88,950 k the heck 1000 and then 101 1017 1017 1017 12,950 12,950 88,750 that's right 88,750 yeah what are you talking about and then the tax calculated on page two that's 15 148 15 that's not 15 yeah 15 148 15 148 boom so there is that so that's the general idea usually the interest is fairly straightforward but you can have those kind of weird situations sometimes with the bond and the amortization of the bond premium and that kind of stuff so just remember the general rule on on if you got a 1099 and you're saying okay the 1099 says I have this taxable component but part of that is is like something that I I shouldn't have to include because it's a bond premium or nominees or something like that then what you want to do is say I got to report this on my taxes as it shows on the 1099 or the iris is going to almost certainly give me flak about it you know try to try to give me a notice on it or something so I've got to show them why I changed it so this one I'm gonna say bank four or whatever we're gonna say let's say that we we've got we've got we've we got a thousand from this bank but I'm not taxed on part of it because I'm gonna I'm gonna distribute it or I'm not taxed on all of it let's say so then underneath it I might add something which would say give me some rationale which might say well this is a nominee distribution and then I could show the negative one thousand here that would say okay so the iris can at least see okay now I see that it was on there and then you took it off with this some kind of rationale so you would think that at least just like the computer in the iris side of things isn't just going to say oh well you didn't put something on there that matches the 1099 because the computer will at least see it matched up and then you had some other thing the rationale which was which is showing why that that 1099 was in essence wrong or or why you adjusted the 1099