Where do I enter interest income from a 1098? I am the mortgage holder of a private loan

[MargaretL · Accepted solution]

A Seller-financed loan interest is entered in Interest & Dividends section.  (You have a seller-financed mortgage if you sell your home and you accept a trust deed or other repayment promise as part of the payment. You are the seller if you financed part or all of the buyer's purchase price when you sold the home.) The data entry is located under:

1. Federal Taxes
2. Wages & Income
3. Interest & Dividends
4. Interest from Seller Financed Loans

NOTE: If this is a personal loan that you gave to your friend so that he can purchase a house, please enter the interest received just as if you have received Form 1099-INT. Enter your friend’s name as a Payer's name and the amount of interest received in box 1.

1. Federal Taxes
2. Wages & Income
3. Interest & Dividends
4. Interest on 1099-INT

[jm6]

What would the person who is paying the mortgage to the private loan holder do in this transaction do to submit the mortgage interest for the personal loan if no 1098 is generated?