How do I enter 1099-Int interest as Passive Interest. This interest was earned from Peer to Peer Lending.

ggold91364 · ‎June 3, 2019

I have 1099-Int income that is Passive Income (from a Peer-to-Peer lending investment. I also have Passive Losses in my K-1 from a different investment. How do I enter the Passive Interest income so it will get offset by the Passive Losses?

MinhT · ‎June 3, 2019

Interest is considered by the IRS as nonpassive income and cannot be used to offset passive losses.

Please read this IRS document:

https://www.irs.gov/businesses/small-businesses-self-employed/passive-activity-losses-real-estate-ta...

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MinhT · ‎June 3, 2019

Interest is considered by the IRS as nonpassive income and cannot be used to offset passive losses.

Please read this IRS document:

https://www.irs.gov/businesses/small-businesses-self-employed/passive-activity-losses-real-estate-ta...

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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How do I enter 1099-Int interest as Passive Interest. This interest was earned from Peer to Peer Lending.