How do i report misc income on a private mortgage that is not seller financing?

660

1 Best answer

Expert Alumni

Jun 4, 2019 4:40:37 PM

If you received interest from a private mortgage, you have to report the interest as interest income on your return.

In TurboTax, you report it as interest just as if you had received a form 1099-INT from a bank. You enter this interest in the 1099-INT entry form.

Expert Alumni

Jun 4, 2019 4:40:37 PM

If you received interest from a private mortgage, you have to report the interest as interest income on your return.

In TurboTax, you report it as interest just as if you had received a form 1099-INT from a bank. You enter this interest in the 1099-INT entry form.