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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.
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.
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