Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Interest and dividends

Enter seller-financed mortgage interest

Do the following to enter seller-financed mortgage interest to report on Schedule B.
  1. Select the
    Income
     folder, then the
    B&D
     screen.
  2. Open the
    Seller-financed mortgage interest income
     statement window and complete these fields:
    1. F/S
      : If the interest is federal-only or state-only, code it as federal or state. If you need to report the interest on both federal and state, leave this field blank. If you have multiple states on the return, follow the steps to enter interest and dividend income for a multi-state return.
    2. TSJ
      : Code the interest to the Taxpayer, the Spouse, or as Joint. This field doesn't exist if you come from the
      Broker
       screen because the entire
      Broker
       screen is coded to the Taxpayer, Spouse, or Joint. The
      Interest income
       statement automatically picks up the code from the
      Broker
       screen.
    3. Payer's Name
      : Enter the payer name.
    4. Street Address, City, State, Zip Code
      : Use these fields to enter the payer’s address.
    5. SSN
      : Enter the payer’s social security number.
    6. Amount
      : Enter the interest amount.
    7. State
      : If the return has more than 1 state, enter the state the interest is for.
    8. In-State Source %
      : Enter the percent of the state-source interest. Only use this field if you have part-year or nonresident states attached to the return.
  3. Complete additional fields in this statement as necessary.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close