How do I enter 1099-Int interest as Passive Interest. This interest was earned from Peer to Peer Lending.
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?
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1 Best answer
MinhT
Expert Alumni
Jun 3, 2019 12:36:51 PM
Interest is considered by the IRS as nonpassive income and cannot be used to offset passive losses.