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How to report 1096 income

Forum|Forum|7 years ago
June 1, 2019
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We receive mortgage income and report interest to payees on a 1098. We report to government on a 1096. How to we report this income?

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Best answer by HelenaC

You should report the interest income in the same manner as interest received from a bank, just AS IF you have received a form 1099-INT. Enter your individual’s name as a Payer's name and the amount of interest received in Box 1.

In TurboTax, open your return and follow these steps:

Select Federal in the left-hand navigation bar and the Wages and Income tab at top of the screen
Scroll down to All Income, the Interest and Dividends section
Select Show more and click Start next to Interest on 1099-INT

H

HelenaCAnswer

Employee

You should report the interest income in the same manner as interest received from a bank, just AS IF you have received a form 1099-INT. Enter your individual’s name as a Payer's name and the amount of interest received in Box 1.

In TurboTax, open your return and follow these steps:

Select Federal in the left-hand navigation bar and the Wages and Income tab at top of the screen
Scroll down to All Income, the Interest and Dividends section
Select Show more and click Start next to Interest on 1099-INT