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higginsboy
New Member

Where should I enter interest earned from a land contract that I hold?

 
4 Replies
Critter-3
Level 15

Where should I enter interest earned from a land contract that I hold?

In the interest section unless you are also getting principal payments ... 

 

1.jpg

VolvoGirl
Level 15

Where should I enter interest earned from a land contract that I hold?

Enter it like you got a 1099 INT for interest and put the amount in box 1

Enter a 1099-Int under

Federal

Wages & Income

Interest and Dividends

Interest on 1099-INT - Click the Start or Update button

 

Critter-3
Level 15

Where should I enter interest earned from a land contract that I hold?

Interest and principle payments for installment sales go here :  

 

1a.jpg

Critter-3
Level 15

Where should I enter interest earned from a land contract that I hold?

@VolvoGirl 

 

There is a separate place for seller held loans ...see my screenshot. 

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