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New Member
posted Jun 7, 2019 3:24:52 PM

I receive interest on a AFR mortgage loan made to a family member. How do I report it in Turbotax?

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1 Best answer
Level 15
Jun 7, 2019 3:24:54 PM

Assuming that you have the proper legal documents to show the interest rate charged, and terms of  repayment etc., you report the interest earned just as if you had received a 1099-INT from a bank  ( similar what you would do for a land-contract ), you will need the SSN of the person that pays you the interest.

1 Replies
Level 15
Jun 7, 2019 3:24:54 PM

Assuming that you have the proper legal documents to show the interest rate charged, and terms of  repayment etc., you report the interest earned just as if you had received a 1099-INT from a bank  ( similar what you would do for a land-contract ), you will need the SSN of the person that pays you the interest.