The program is optimized for "institutional" payers (banks, brokerages) and requires a Federal Employer Identification Number (FEIN) format. However, you must now enter your private loan interest earned in a different section of the program. Enter Your "Seller-Financed" Interest (Even if this wasn't a mortgage or a house sale): Open or continue your return. Search for "seller-financed interest received" (or just "seller-financed") in the Search box. Click on the "Jump to..." link. When asked if this is "Interest from Seller-Financed Loans," Select "Yes". Enter the family member's Name, Address, and SSN. Enter the total interest amount.By entering this information in this section: This method allows this money to flow correctly to Schedule B. It identifies it as interest from an individual. It satisfies the IRS requirement to list the payer’s SSN (without causing an "Invalid FEIN" error). If the interest is over $1,500, the IRS technically requires that higher amounts be broken down on Schedule B.

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dana-weese

Level 2

Solved

Where do I input interest I received from a private (family) loan? I used to be able to input a SSN into the 1099-INT section but now it rquires a FEIN

Forum|Forum|4 months ago
March 10, 2026
3 replies
53 views

No text available

TurboTax Online

Best answer by TomK2023

The program is optimized for "institutional" payers (banks, brokerages) and requires a Federal Employer Identification Number (FEIN) format.

However, you must now enter your private loan interest earned in a different section of the program.

Enter Your "Seller-Financed" Interest (Even if this wasn't a mortgage or a house sale):

Open or continue your return.
Search for "seller-financed interest received" (or just "seller-financed") in the Search box.
Click on the "Jump to..." link.
When asked if this is "Interest from Seller-Financed Loans," Select "Yes".
Enter the family member's Name, Address, and SSN.
Enter the total interest amount.

By entering this information in this section:

This method allows this money to flow correctly to Schedule B.
It identifies it as interest from an individual.
It satisfies the IRS requirement to list the payer’s SSN (without causing an "Invalid FEIN" error).
If the interest is over $1,500, the IRS technically requires that higher amounts be broken down on Schedule B.

TomK2023Answer

Level 15

The program is optimized for "institutional" payers (banks, brokerages) and requires a Federal Employer Identification Number (FEIN) format.

However, you must now enter your private loan interest earned in a different section of the program.

Enter Your "Seller-Financed" Interest (Even if this wasn't a mortgage or a house sale):

Open or continue your return.
Search for "seller-financed interest received" (or just "seller-financed") in the Search box.
Click on the "Jump to..." link.
When asked if this is "Interest from Seller-Financed Loans," Select "Yes".
Enter the family member's Name, Address, and SSN.
Enter the total interest amount.

By entering this information in this section:

This method allows this money to flow correctly to Schedule B.
It identifies it as interest from an individual.
It satisfies the IRS requirement to list the payer’s SSN (without causing an "Invalid FEIN" error).
If the interest is over $1,500, the IRS technically requires that higher amounts be broken down on Schedule B.

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Mike9241

Level 15

sadly the programmers never considered this. shame shame. See if you can skip the EIN, if not, try a dummy number like 36-1234567 or enter the SSN as if it were xx-xxxxxxx. That should not be transmitted as part of the e-file. Maybe others will have a different idea

Mike9241

dana-weeseAuthor

Level 2

Thanks for the help! I was getting pretty frustrated so I really appreciate the detailed response. It ended up working perfectly. As a side note, however, I was initially still having difficulty but I think it was because of the browser I was using. While signed into TurboTax using the Brave browser, even when I typed in the search exactly as you suggested I got the response "No Matching Result." However, when I signed into TurboTax using Safari your instructions worked out just as you indicated. Thanks again.