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Tax Report: Schedule B Income Sources

The tax return is a wealth of knowledge about clients. Schedule B lists income-producing accounts, potentially including accounts that advisors may not manage (or even be aware of!).




This table on the Tax Report will summarize both the source and amount of investment income (i.e., interest and dividends). Peter and Paula appear to have multiple banks and investment accounts that generate interest and dividends. If an advisor isn't managing all of a client's investment assets, this table can help gauge how much income is coming from accounts held elsewhere. If all of a client’s investments are managed by the advisor and an unexpected account appears here, it also creates a natural opening to ask about that relationship in a future conversation.

Holistiplan has a Schedule B Summary report that lists all households and Schedule B sources on a downloadable report identifying the Interest and Dividend income sources across all households in a couple of quick clicks!