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Yes it is taxable interest income and needs to be reported on your tax return. To report the interest income in TurboTax Online, while logged in to your return:
You are also required to file a Form 1098 and report the amount of interest paid to the IRS and the borrower.
Yes it is taxable interest income and needs to be reported on your tax return. To report the interest income in TurboTax Online, while logged in to your return:
You are also required to file a Form 1098 and report the amount of interest paid to the IRS and the borrower.
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