I sold a piece of real estate in 2018 and hold a promissory note. Buyer made monthly payments, & I need to provide him a form for his 2018 taxes. Do I provide him a 1099?

gerri7 · ‎June 7, 2019

TaxGuyBill · ‎June 7, 2019

You are not required to give him any forms such as a 1099 for the promissory note.

If he is making payments to you, it might be easiest if you give him a statement indicating how much interest he paid you. That way the amount that he reports as a deduction will hopefully match the amount that you report as income.

He will also probably need your name, ID number (such as your Social Security Number or EIN) and address.

https://www.irs.gov/instructions/i1040sca#idm140545383111728

View solution in original post

TaxGuyBill · ‎June 7, 2019

You are not required to give him any forms such as a 1099 for the promissory note.

If he is making payments to you, it might be easiest if you give him a statement indicating how much interest he paid you. That way the amount that he reports as a deduction will hopefully match the amount that you report as income.

He will also probably need your name, ID number (such as your Social Security Number or EIN) and address.

https://www.irs.gov/instructions/i1040sca#idm140545383111728

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I sold a piece of real estate in 2018 and hold a promissory note. Buyer made monthly payments, & I need to provide him a form for his 2018 taxes. Do I provide him a 1099?