How to report interest paid to self

RB66 — Mon, 13 Apr 2020 19:01:49 GMT

In Aug 2019 my wife and I loaned personal funds to our rental property LLC to pay off the mortgage on one of the properties in that LLC. Our attorney drew up an amortization schedule. Where do I report the interest earned from that loan on my 2019 tax return?

Re: How to report interest paid to self

MinhT1 — Mon, 13 Apr 2020 19:22:14 GMT

If your LLC paid you interest, you should report it AS IF you had received a form 1099-INT form a bank.

In TurboTax, you can enter your form 1099-INT by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Wages & Income on top of the screen
Scroll down to All Income, locate the section Interest and Dividends and click on Show more
Click Start next to Interest on 1099-INT.

topic How to report interest paid to self in Investors & landlords

How to report interest paid to self

Re: How to report interest paid to self