Instructions below will show you how to report the income. Some companies don't seem to understand their reporting requirements because they can be complicated.
The purchase of the Class B Common Stock should be entered as a sale of stock (usually in Form 1099-B). You will select as though you did receive a 1099-B and enter the cost, purchase date, sales price (promissory note amount) and date of sale. Choose to enter it a different way and enter it yourself (no import).
Next enter the interest income for 2024. You should have an amortization schedule showing the interest, note amount/principal and total payment for each month for the term of the contract.
Reminder: You do not actually have these forms. Keep the 1099-NEC in your file with an explanation that it was the wrong reporting form for sale of stocks and interest paid on a promissory note.
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