Skip to main content
January 27, 2025
Solved

How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

  • January 27, 2025
  • 3 replies
  • 0 views
SHe pays a market rate of interest and I need to claim that as income.
    Best answer by VolvoGirl

    You don’t need to get a 1099Int from her.    All you need to enter is the bank name or who paid you and put the amount in box 1.

     

    Enter interest received like a 1099-Int under

    Federal Taxes tab (Personal for Home & Business)

    Wages & Income

    Interest and Dividends

    Interest on 1099INT - Click the Start or Update button

     

    Then there are different ways if you have the Online version or the Desktop program.  

    3 replies

    Employee
    January 27, 2025

    She gives you a 1099-INT which you report on your return. 

    VolvoGirl
    VolvoGirlAnswer
    Employee
    January 27, 2025

    You don’t need to get a 1099Int from her.    All you need to enter is the bank name or who paid you and put the amount in box 1.

     

    Enter interest received like a 1099-Int under

    Federal Taxes tab (Personal for Home & Business)

    Wages & Income

    Interest and Dividends

    Interest on 1099INT - Click the Start or Update button

     

    Then there are different ways if you have the Online version or the Desktop program.  

    January 27, 2025

    You will report as Interest.  

     

    1. In TurboTax, go to Investment and Savings - Interest on 1099-INT (see below)
    2. On the next screen. Click on Add Investment 
    3. On the Let's Import your tax Info, Click on Enter a different way
    4. You will see OK, let's start with one investment type, Click on 1099-INT then Continue
    5. On the screen How would you like to upload your 1099-INT? Click on Type It in Myself

     

    You can then enter his name for Received from and the amount in Box 1.