Where do i enter interest income from a private mortgage?

Forum|Forum|4 years ago
March 10, 2022
1 reply
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can i enter income from private mortgage interest received?

TurboTax Premier Online

ThomasM125

You would enter your private mortgage interest income in the Federal section of TurboTax, then Interest and Dividends, then Interest from Seller-Financed Loans.

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albatross333

I lent money to my daugher and her husband to purchase a house. I hold the mortgage drawn up by an attorney with an appropriate interest rate. Your answer referred to making an entry as the seller. I am not the seller, just the lender. I cannot seem to find out how to make that kind of interest income entry.

VolvoGirl

Employee

Just enter it like bank interest on a 1099INT. You don't need to have a 1099 or bank name.

If you received interest from someone either as mortgage interest or other interest, enter it like you had received a 1099-INT and put the amount in Box 1. Enter it under….
Federal Taxes Tab
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button

Don't enter a bank or broker name and don't try to import it. At the bottom pick - Change How I enter my Form

Then on the next screen pick I'll Type it in Myself