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Hi, I loaned money to an individual and am earning interest income on that loan. Where do I record it?
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Hi, I loaned money to an individual and am earning interest income on that loan. Where do I record it?
You would report interest income received on money you lent to an individual on Schedule B, Part I.
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Hi, I loaned money to an individual and am earning interest income on that loan. Where do I record it?
Thank you so much.
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Hi, I loaned money to an individual and am earning interest income on that loan. Where do I record it?
Although you didn't get a 1099-INT, report the interest in the 1099-INT section:
- Open your return (or continue if it's not already open).
- In the upper right menu, select
and search for 1099-INT or 1099INT (lower-case also works).
- Select the Jump to link in the search results.
- Answer Yes to Did you receive any interest income?
- If you see Review your 1099-INT info, select Add another 1099-INT or select Review next to the correct 1099-INT.
- On the following screen, select I'll type it in myself or Continue.
- On the next screen, input the required information.
- Select Continue.
- On the next screen, Do any of these uncommon situations apply?, select the appropriate answer and Continue.
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