Vanessa A
Expert Alumni

Investors & landlords

Yes, you will report the interest income on Schedule B even though there is no 1099-INT.

 

Although you do not need to issue a 1098, you will need to give your family member a mortgage statement that shows the amount of interest they paid to you.  If your family member is taking the Standard Deduction, mortgage interest will not affect their return.   

 

If they are itemizing their return, then they will use the mortgage statement you give them to report the mortgage interest paid the same way they would if they had a 1098. 

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