topic Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed. in Deductions & credits

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

712banner — Thu, 06 Jun 2019 10:35:33 GMT

You can report this interest as if you received a 1099-IN...

IsabellaG — Thu, 06 Jun 2019 10:35:33 GMT

You can report this interest as if you received a 1099-INT. Just enter your daughter's name, and the amount of interest you received. Since this is not a mortgage, she can't deduct this interest.

Actually, this is an second mortgage on her house, with m...

712banner — Thu, 06 Jun 2019 10:35:35 GMT

Actually, this is an second mortgage on her house, with me as the lender

Well, if this is an actual mortgage, it must be secured b...

IsabellaG — Thu, 06 Jun 2019 10:35:37 GMT

Well, if this is an actual mortgage, it must be secured by the home,which means that you have a lien on the property, as opposed to a personal loan. In that case, report it as if it was a seller-financed mortgage and include the information about your daughter.

Thank you.

712banner — Thu, 06 Jun 2019 10:35:38 GMT

Thank you.

You're welcome!

IsabellaG — Thu, 06 Jun 2019 10:35:43 GMT

You're welcome!