Mortgagee Earnings

Forum|Forum|1 year ago
April 2, 2025
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How do I report interest earned on a mortgage that I provided? I was a private money lender in a real estate deal (with the promissory note recorded as a mortgage) and collected interest. I have documents from the title company but not sure how to report the interest earned.

Ask the Experts - MetLife VIII - April 2025

ThomasM125

You entered the interest revenue as a Form 1099-INT entry in the Wages and Income section of TurboTax, then Interest and Dividends, then Interest on 1099-INT.

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Anna113Author

Did I understand correctly that even though I just collected the payments and did not get a formal 1099-INT, I report it the same way? Do I need to report the payer's information? Just list their names/LLC and total interest collected?

DawnC

Employee

That is correct. You can enter it as interest income whether on a 1099-int or not. You will need to enter the payer's name and total interest collected. You may get a message to enter a TIN for the person, but it is generally not required and that message will not prevent e-file. There is an entry line for interest from Seller-Financed Loans also, which asks for the same information. See below.