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March 21, 2023
Question

Interest Income

  • March 21, 2023
  • 1 reply
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We received interest income from a mortgage that we held on a parent's house.  The parent passed away, the estate sold the property and paid off the mortgage.  We know to enter the interest as 1099-INT interest but who do we enter as the payee - the deceased individual's name or the estate thereof?

    1 reply

    March 21, 2023

    The estate paid you the mortgage interest so enter the estate as the payer.

     

    @raczbell 

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