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New Member
posted Jan 27, 2025 2:58:00 PM

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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1 Best answer
Level 15
Jan 27, 2025 3:08:12 PM

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.  

3 Replies
Level 15
Jan 27, 2025 3:05:02 PM

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

Level 15
Jan 27, 2025 3:08:12 PM

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.  

Expert Alumni
Jan 27, 2025 3:12:47 PM

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.