Where in the Turbo Tax program do I enter interest that I earned from a personal loan to a friend? I do not have a 1099-INT and since the interest came from an individual with whom I have a promissory note agreement. This is not for a mortgage.
All you need to enter is the bank name or who paid you and put the amount in box 1.
Enter interest received like a 1099-Int under
Federal Taxes tab (Personal for Home & Business)
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Put the interest amount in box 1
Enter the interest as if you got a 1099-INT, even though you didn't. For the payer's name enter your friend's name and the words "personal loan." Enter the amount of interest in box 1. That's all you have to enter.
All you need to enter is the bank name or who paid you and put the amount in box 1.
Enter interest received like a 1099-Int under
Federal Taxes tab (Personal for Home & Business)
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Put the interest amount in box 1