You would enter your private mortgage interest income in the Federal section of TurboTax, then Interest and Dividends, then Interest from Seller-Financed Loans.
I lent money to my daugher and her husband to purchase a house. I hold the mortgage drawn up by an attorney with an appropriate interest rate. Your answer referred to making an entry as the seller. I am not the seller, just the lender. I cannot seem to find out how to make that kind of interest income entry.
Just enter it like bank interest on a 1099INT. You don't need to have a 1099 or bank name.
If you received interest from someone either as mortgage interest or other interest, enter it like you had received a 1099-INT and put the amount in Box 1. Enter it under….
Federal Taxes Tab
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Don't enter a bank or broker name and don't try to import it. At the bottom pick - Change How I enter my Form
Then on the next screen pick I'll Type it in Myself
I've done this in the past, but for 2024, it is giving me an error and wants me to enter a TEIN. How do i get around this?
The IRS is matching who pays the interest and who claims the interest. You will need to enter the lender's information in order to e-file.