In 2019, I lend money using using my personal checking account to a realtor friend I know to flip houses. I am not actively participating in the flipping process other than lending money, and the house is not under my name.
How do I report such income in Turbotax? What form should I use?
how is the amount he pays you determined? if he's splitting profits, you are probably engaged in a partnership for which a tax return should have been filed. if it's intended to be interest he should have issued you a 1099-int. what did you agree to with the realtor and is it in writing?