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Is interest from a private loan considered taxable income and if so must the payer provide a 1099?
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June 1, 2019
5:00 PM
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Retirement tax questions
Yes but you don't need a 1099 from them.
You must report all your income no matter how small, even $1 of interest that you don't get a 1099 for. Enter interest received like a 1099-Int under
Federal Taxes tab
Wages & Income
Choose Jump to Full List -or I'll choose what I work on
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Put the interest amount in box 1
You must report all your income no matter how small, even $1 of interest that you don't get a 1099 for. Enter interest received like a 1099-Int under
Federal Taxes tab
Wages & Income
Choose Jump to Full List -or I'll choose what I work on
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Put the interest amount in box 1
June 1, 2019
5:00 PM