topic How do I enter interest received on a personal loan? in Deductions & credits

How do I enter interest received on a personal loan?

dobbinsjs — Wed, 11 Feb 2026 04:21:22 GMT

Re: How do I enter interest received on a personal loan?

MinhT1 — Tue, 06 Feb 2024 13:17:06 GMT

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.

Re: How do I enter interest received on a personal loan?

lad20 — Wed, 14 Feb 2024 23:16:50 GMT

Would it be the same for interest received on a private/personal loan backed by property in another state? It's technically interest on a promissory note, not a mortgage. I will be adding the interest as income to my Federal and home state returns, but would I have to also file a return in the other state as well?

Re: How do I enter interest received on a personal loan?

DavidD66 — Wed, 14 Feb 2024 23:20:12 GMT

No, you do not need to file a return to report the interest income to the other state.