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How to we report the interest payments on our seller financed mortgage? We did not use a loan processor and there was no existing mortgage on the house.

Home was owned outright, and was sold privately and we hold the mortgage.
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1 Reply
ThomasM125
Employee Tax Expert

How to we report the interest payments on our seller financed mortgage? We did not use a loan processor and there was no existing mortgage on the house.

You would enter the mortgage interest income in the Wages and Income section, then Interest and Dividends, then Interest from Seller-Financed Loans

 

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