How to report 1096 income

[bfitch123]

We receive mortgage income and report interest to payees on a 1098. We report to government on a 1096. How to we report this income?

[HelenaC · Accepted solution]

You should report the interest income in the same manner as interest received from a bank, just AS IF you have received a form 1099-INT.  Enter your individual’s name as a Payer's name and the amount of interest received in Box 1.

In TurboTax, open your return and follow these steps:

• Select Federal in the left-hand navigation bar and the Wages and Income tab at top of the screen
• Scroll down to All Income, the Interest and Dividends section
• Select Show more and click Start next to Interest on 1099-INT