Interest received on a personal loan is taxable and reportable on your tax return.
You enter this interest as if you have received a form 1099-INT.
In TurboTax, you can enter interest received by following these steps:
- In TurboTax, open your tax return
- Click on Federal in the left-hand column, then on Wages & Income
- Locate the section Interest and Dividends and click on the arrow on the right
- Click Start next to Interest on 1099-INT.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
