Do I need to claim the interest I receive on a private loan of $220,000 ?

[SharonD007]

Yes, you must report all interest on your tax return even if you didn't receive a 1099-INT.

For more information, refer to ‌IRS ‌Topic no. 403, Interest received.

Enter the interest as if you received a 1099-INT.  Follow the instructions below:

1. Launch TurboTax
2. Select Federal and Wages & Income
3. Select Add more income
4. Select the dropdown by Investments and Savings
5. Select by Interest on 1099-INT and follow the prompts to enter the interest that you received
6. When you get to Let's get the info from your 1099-INT screen, enter the name of the person that you received the interest from in the box labeled Payer's information.