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I think that a mortgage recorded on the second my son home and have the interest I have received on this loan, the report .. I’m with Turbo Tax, and the only option for interest on a 1099-int (I did not, of course) have reported .. Should I as “other taxable income” or what? I will report the income, so he can claim the interest deduction

5 Thoughts on Where do I report interest income of a family member?
  1. Reply
    May 2, 2011 at 1:36 am

    Schedule A.

  2. Reply
    May 2, 2011 at 2:04 am

    It’s “other taxable income”–that happened in my family for quite a few years.

  3. Reply
    A M Frantz
    May 2, 2011 at 2:31 am

    You should be reporting it as taxable interest on line 8a. How specifically you do this in Turbo I’m not certain.

  4. Reply
    Mr Obvious
    May 2, 2011 at 3:08 am

    Just like he writes it off on his Schedule A, you have to include it in your income. It is interest just like if you received a 1099-INT. Try to add it regardless. If the software absolutely refuses to let you enter interest without using a 1099-INT, then pretend you have a 1099-INT. But, I’m sure the software will allow it.

  5. Reply
    v b
    May 2, 2011 at 3:43 am

    Remember to list it on schedule B *with* your son’s name and SSN. That way his deduction on line 11 of his schedule A (it’s a different line because there is no 1098) will stick. He includes your name and SSN on his return.

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