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How do I enter interest paid from a land contract? We do not have a official form because we bought the house from my parents.

 
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How do I enter interest paid from a land contract? We do not have a official form because we bought the house from my parents.

You would enter it in the same section "Your Home" type your parents name in as Lender, and the next screen you will check, "I did not receive a 1099"

To enter mortgage interest

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits 
  • Click on I'll choose what I work on (if shown)
  • Under Your Home
  • On Mortgage Interest, click on the start or update button

Really not much different than getting a 1098.  Make sure what you list as interest expense agrees with parents, as this is the same amount they should be reporting as income. 

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