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ewelken
New Member

I need to provide a 1098 to the individuals purchasing my home through a contract for deed. Where do I find it on TurboTax?

I found the form on the IRS site, but it says I cannot use a print out of that form to submit the information.
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1 Reply
HelenaC
New Member

I need to provide a 1098 to the individuals purchasing my home through a contract for deed. Where do I find it on TurboTax?

You do not have to give the buyer(s) a 1098 Mortgage form because you are not in the "business" of giving loans. 

This is a seller financed loan. You need to give them your name, address, Social Security Number and the amount of mortgage interest they paid you. 

When the buyer prepares their income tax return, there is a section where they will answer, "The seller is financing this loan and we didn't receive a 1098'. See the example below.

To report the interest the buyer paid you:

  • Type interest in the search bar and click search.
  • Click on Jump to interest
  • On the Did you receive any interest income? screen, click Yes. See the screenshot below.
  • Click on I'll type it in myself and continue. 
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