MonikaK1
Expert Alumni

Deductions & credits

If you received interest income from the note in 2023, if using TurboTax Online, go to Federal, Wages & Income, and select Investments and Savings. Select Interest and choose to type in the information yourself.

 

Even if you were paid directly by the borrower and didn't receive a Form 1099-INT from a financial institution, enter the interest income in the Form 1099-INT section. See this help article for more information. 

 

If you were to sell the note, then you would need to report it as the sale of investment property in the year it is sold. You don't need to report the purchase of the note, but you would include the information about the purchase when you report the sale.

 

See this help article for the steps to enter the sale of an investment in TurboTax.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"