Where do I declare the interest earned on mortgager I hold on office building sold in 2023?

[Jeanne Lynch]

I sold my interest in office building and hold the mortgage. I receive monthly payments. Taxable!

[MinhT1]

Interest received in the monthly payments is taxable income. You have to split the payments between interest and repayment of principal.

You'll enter this interest income as if you had received a form 1099-INT from a bank.

 In TurboTax Online, you can enter your interest income by following these steps:

1. Open your tax return
2. Click on Federal in the left-hand column, then on Wages & Income
3.  Navigate to the list Income categories
4. Locate the section Investment and Savings and click on the arrow on the right
5. Click Start next to Interest on 1099-INT
6. Choose to Type it in yourself

[Mike9241]

therre is a section under investment income for seller financed mortgae becuase not only do you have to enter the interest but also additional info about the buyer. However, if you are reporting the sale on the installment basis interest income on this should be only reported in the installment sale section