I have a new loan from a family member and they’re asking me for a 1099 on the interest paid in 2023, how do I do that?

[LenaH]

To create a 1099-INT Form, please follow the steps below.

If you are using TurboTax Online, 

1. Sign in to TurboTax.
2. Select Tax Home from the left menu (you might already be there).
3. Scroll down and select Your account.
4. Select Create W-2s and 1099s.
5. This will log you in to Quick Employer Forms.
6. Follow the instructions to create forms online.

If you are using TurboTax Desktop,

1. Launch TurboTax Desktop (applicable to TurboTax Business and Home & Business also).
2. Select File from the top menu.
3. Select Create 1099s/W-2s.
4. Follow the instructions to create forms online.

You can also e-file the 1099-INT on the IRS website. Please see E-file forms 1099 with IRIS.

For additional information, please go to Instructions for Form 1099-INT.

[Edited 2/22/24 l 4:17AM PST]

[SteamTrain]

I didn't think you were supposed to create a formal 1099-INT for a personal loan.

.....but then, I'm not knowledgeable about all situations.