dual member LLC (Husband/Wife) 1099-INT questions

[TexasRedFish]

My wife and I are the only members of an LLC.  We do hard money lending in trust deeds that are secured by the LLC being the note holder.  We receive monthly income interest payments from each of the borrowers.   All interest is recorded on each of the 1099-INT issued under our TIN.  I'm confused about how to enter the 1099-INT information in itt-biz.    Under "other income" I can put in a free form name and amount; however, it doesn't have anywhere to put in the Payor's TIN.  The only income choices I have are "Income From Investments" and "Other Income".  Could y problem be the business activity code I used? (522292 - Real Estate Credit)

[Anonymous_ · Accepted solution]

If the primary (and presumably only) business of the LLC is lending money, then why would the income from that activity not belong in sales and service receipts (i.e., Line 1a on form 1065)?

The net profit should be subject to self-employment tax for both members of the LLC.

It does not appear as if the income is either investment income or "other income" (the latter of which would be interest earned from extending credit in the course of your business, for example, allowing customers to pay for goods or services you provide over time, and not interest earned as the main source of income for your business).