1099-INT forms to Private Investors

[Ankur Patel]

Hello,

I have a home that I am flipping under my own name but received private money from a family member. I am going to pay that family member their principal plus interest. Is the only form which needs to be sent to them the 1099-INT by me to them or are they also required to send a 1098 to me as well? Any help is appreciated.

Thanks,

Ankur

[Ankur Patel]

Thank you all for the responses.

The loan is not secured by the property so I will only send the private investor a 1099-INT form as well as consult a tax professional.