You'll need to sign in or create an account to connect with an expert.
you use a 1099-INT.
It is reported using the Seller Finance section even if you did not "sell" the property but are just holding paper:
Unless you are in the business of loaning money ... if so post back for more information.
Here's how to enter interest income from a private individual on Schedule B:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jackkgan
Level 6
jf4evr
Returning Member
jfadams
Level 2
anwan1001
New Member
TINAAAAA
Level 1