You should report the interest on the mortgage. The data entry in TurboTax depends on the actual nature of the loan.
If this is
a personal loan that you gave
to an individual, please enter the interest received just as if you have
received Form 1099-INT. Enter your individual’s name as a Payer's name and the amount of interest
received in box 1.
- Federal Taxes
- Wages & Income
- Interest & Dividends
- Interest on 1099-INT
If you
have interest from a Seller-financed loan (You
have a seller-financed mortgage if you sell your home and you accept a trust
deed or other repayment promise as part of the payment. You are the seller
if you financed part or all of the buyer's purchase price when you sold the
home.) - the data entry is located under:
- Federal Taxes
- Wages & Income
- Interest & Dividends
- Interest from Seller Financed Loans
