Enter seller-financed mortgage interest
Do the following to enter seller-financed mortgage interest to report on Schedule B.
- Select theIncomefolder, then theB&Dscreen.
- Open theSeller-financed mortgage interest incomestatement window and complete these fields:
- 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.
- TSJ: Code the interest to the Taxpayer, the Spouse, or as Joint. This field doesn't exist if you come from theBrokerscreen because the entireBrokerscreen is coded to the Taxpayer, Spouse, or Joint. TheInterest incomestatement automatically picks up the code from theBrokerscreen.
- Payer's Name: Enter the payer name.
- Street Address, City, State, Zip Code: Use these fields to enter the payer’s address.
- SSN: Enter the payer’s social security number.
- Amount: Enter the interest amount.
- State: If the return has more than 1 state, enter the state the interest is for.
- 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.
- Complete additional fields in this statement as necessary.
