Private Lending Tax Tips

If you are a private lender or borrow directly from a private lender, chances are you need some assistance filing your 1098 and 1099 tax forms. I recommend having your accountant or CPA taking care of that but if you are a do it yourselfer there is an online service as well.

e-File Magic let’s you print and electronically file these forms. It also will print and mail the forms to the recipients for you. It’s at:

http://www.efilemagic.com/

The IRS.gov site has forms you can print off but says you cannot efile the forms unless you have a software program that will format them appropriately for e-filing. e-File Magic does that, too!