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April 5, 2022
Question

How do I report my receipt of interest payments from a seller-financed mortgage on undeveloped land (no residence)?

  • April 5, 2022
  • 1 reply
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1 reply

April 5, 2022

Enter the interest that you received from the buyer as if you had a 1099-INT form. 

 

In TurboTax, open your return and follow these steps:

  1. Select Federal from the left side navigation.
  2. Select Wages and Income from the top tab.
  3. Scroll down to  Investments and Savings (1099-B, 1099-INT, 1099-DIV, Crypto) and Start/Review.
  4. If you land on the Your investments and savings screen, scroll all the way down to Add investments.
  5. Continue and on the Let's import your tax info screen, select Enter a different way
  6. On the OK, let's start with one investment type screen, select 1099-INT and Continue.
  7. On the How do you want to enter your 1099-INT? screen select Type it in myself.
  8. On the Let's get the info from your 1099-INT screen, enter the borrower's name, SSN and if possible, address in the Received from box.
  9. Continue with the onscreen interview until complete.
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