We loaned money to my husband's company. They paid back the loan amount and are now paying an additional interest to us. How do I report the interest payment?

[theshus1]

Original Loan amount was $50,000 in 2013.

The $50,000 was repaid in 2015 and in 2016 we received an additional $4,400 paid to us for interest.

How do we document that interest being paid back to us?

[Marketstar]

To report interest income earned in TurboTax:

• Type in 1099-int in the search box, top right of your screen, then click the magnifying glass

• Click the jump to 1099-int6 link in the search results.

• Follow the onscreen instructions to enter

 You will arrive at the Let's get your 1099-INT or brokerage statement details page

Enter the source of your interest income in the Received from field

Enter the amount of interest income received in Box 1 - Interest income