Seller-Financed Interest allows for the buyer of a home to finance the purchase through the homeowner (seller). The buyer will then make payments directly to you (the seller) rather than to a bank unlike traditional mortgages.
Where do I report Seller-Financed Interest in the program?
To report Seller-Financed Interest in the program please follow this pathway:
- Federal
- Income - Select my forms
- 1099-INT, DIV, OID
- Did you earn any interest or dividend income from a bank, brokerage firm or some other financial institution?
- Seller Financed Interest Income
For more information about Seller-Financed Interest, please see the IRS publication here.