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February 17, 2025
Question

How to e-file Form 1098 as lender with IRS?

  • February 17, 2025
  • 1 reply
  • 0 views
This requires converting PDF to IRS ASCII

    1 reply

    KrisD15
    February 20, 2025

    To clarify, are you an individual (not banker) holding a note on property and taking payments from another individual which includes interest?

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    rdarilekAuthor
    February 21, 2025

    Yes.

    JohnB5677
    February 23, 2025

    If you are the mortgage holder for a property that you sold,  It sounds like you have a Self-Financed Loans.

    • TurboTax can assist you in posting this transaction.
    • Turbo tax does not make file format conversions; however, You can use online tools like DocHub or miniPDF to convert a PDF to ASCII. 

     

    To post this income, follow these steps:

     Select Tax Tools

    • This is on the left sidebar
    • You may have to minimize the Federal and State options
    • You also may have to scroll down on that menu
    1. Once you can work on Tax Tools
    2. On the drop-down select Tools
    3. There will be 3 or 4 green boxes
    4. Select Topics Search
    5. Type Mortgage Interest received
    6. You will see Any Seller-Financed Loans? Yes
    7. Enter Seller-Financed Interest You Received
    8. Continue through the questions.

     

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