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rivasmarvin11122
New Member

Where do you report interest income from a personal loan with no 1099int form? Should it go in the interest and dividends or in the other common income area as 1099-misc?

 
2 Replies
ToddL
New Member

Where do you report interest income from a personal loan with no 1099int form? Should it go in the interest and dividends or in the other common income area as 1099-misc?

You would report this interest income exactly as if it was reported to you on a Form 1099-INT, in the Interest on 1099-INT interview of Personal > Personal Income >  Interest and Dividends.

mrmox
New Member

Where do you report interest income from a personal loan with no 1099int form? Should it go in the interest and dividends or in the other common income area as 1099-misc?

I believe in the case of a 1099-INT from a PRIVATE PARTY or if the 1099-INT DOES NOT EXIST then you may have to IGNORE the TurboTax Mis-guidance in the question "Do you have any interest from ANOTHER BANK OR BROKERAGE?"  (if/when that question comes up. YMMV. )

 

I think you say YES here even though it is NOT from a "bank or brokerage".

Plenty of other places interest might come from, TT!!

 

 

 

 

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