1099-Int

[tonia2021]

What is the requirement for filing a 1099-int? My client borrowed money from her parents and paid interest to them. Does she need to file 1099-int?

[BP.]

What is the requirement for filing a 1099-int?

Instructions here:

http://www.irs.gov/pub/irs-pdf/i1099int.pdf

Not a mortgage note, was it?

[tonia2021]

Not a mortgage loan. Just a personal loan that was paid back including interest.

[ChEAr$]

What is the requirement for filing a 1099-int? My client borrowed money from her parents and paid interest to them. Does she need to file 1099-int?

Only if client borrowed money for business purpose, e.g. schedule c business.
For a personal loan, no.

[taxea]

see taxable interest, page 6-5 TTB