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:
- Click on Federal in the left-hand column, then on Wages and Income on top of the screen
- Scroll down to All Income, locate the Interest and Dividends section
- Click Show more and click Start next to Interest on 1099-INT
