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712banner
New Member

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

 
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IsabellaG
Employee Tax Expert

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

You can report this interest as if you received a 1099-INT. Just enter your daughter's name, and the amount of interest you received. Since this is not a mortgage, she can't deduct this interest.

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IsabellaG
Employee Tax Expert

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

You can report this interest as if you received a 1099-INT. Just enter your daughter's name, and the amount of interest you received. Since this is not a mortgage, she can't deduct this interest.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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712banner
New Member

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

Actually, this is an second mortgage on her house, with me as the lender
IsabellaG
Employee Tax Expert

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

Well, if this is an actual mortgage, it must be secured by the home,which means that you have a lien on the property,  as opposed to a personal loan. In that case, report it as if it was a seller-financed mortgage and include the information about your daughter.
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712banner
New Member

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

Thank  you.
IsabellaG
Employee Tax Expert

Where do I report interest income from my daughter, for whom I am financing a house? This was not my home so it is not exactly seller-financed.

You're welcome!
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