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dual member LLC (Husband/Wife) 1099-INT questions
My wife and I are the only members of an LLC. We do hard money lending in trust deeds that are secured by the LLC being the note holder. We receive monthly income interest payments from each of the borrowers. All interest is recorded on each of the 1099-INT issued under our TIN. I'm confused about how to enter the 1099-INT information in itt-biz. Under "other income" I can put in a free form name and amount; however, it doesn't have anywhere to put in the Payor's TIN. The only income choices I have are "Income From Investments" and "Other Income". Could y problem be the business activity code I used? (522292 - Real Estate Credit)
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‎January 31, 2023
12:34 PM