Hi all,
In April 2015 we bought a house, and we got a private mortgage from FIL/MIL.
We would like to try to do our state/federal taxes ourselves (without paying for TurboTax etc.)
But we're not sure what to do about the private mortgage. We have obviously kept track of all payments, so we can easily total the interest paid in 2015.
Does the lender need a 1099 form? Do we just generate this ourselves? Do we need a form showing how much interest paid?
Any help greatly appreciated.
