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How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

SHe pays a market rate of interest and I need to claim that as income.
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How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

You don’t need to get a 1099Int from her.    All you need to enter is the bank name or who paid you and put the amount in box 1.

 

Enter interest received like a 1099-Int under

Federal Taxes tab (Personal for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

Then there are different ways if you have the Online version or the Desktop program.  

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3 Replies

How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

She gives you a 1099-INT which you report on your return. 

How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

You don’t need to get a 1099Int from her.    All you need to enter is the bank name or who paid you and put the amount in box 1.

 

Enter interest received like a 1099-Int under

Federal Taxes tab (Personal for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

Then there are different ways if you have the Online version or the Desktop program.  

MaryK4
Employee Tax Expert

How do I report the interest I received on the mortgage I hold on my daughter's house? It is a recorded lien and I gave her a 1098 mortgage interest statement.

You will report as Interest.  

 

  1. In TurboTax, go to Investment and Savings - Interest on 1099-INT (see below)
  2. On the next screen. Click on Add Investment 
  3. On the Let's Import your tax Info, Click on Enter a different way
  4. You will see OK, let's start with one investment type, Click on 1099-INT then Continue
  5. On the screen How would you like to upload your 1099-INT? Click on Type It in Myself

 

You can then enter his name for Received from and the amount in Box 1.

 

 

 

 

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