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Collecting payments from a land contract. We have to claim the interest as income. we dont have forms. where do we file this?

this is interest we have to claim as income.

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1 Reply
MinhT1
Expert Alumni

Collecting payments from a land contract. We have to claim the interest as income. we dont have forms. where do we file this?

If you didn't receive a form 1099-INT for interest received, you'll enter that interest income as if you received a form 1099-INT.

 

In TurboTax, you can enter interest received by following these steps:

 

  1. In TurboTax, open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income 
  3. Locate the section Interest and Dividends and click on the arrow on the right
  4. Click Start next to Interest on 1099-INT.

 

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