Mortgage loan from mom - 1099-INT?

[Doyle Brewer]

Does the lender or the debtor initiate the 1099-INT in a family situation like this?

[Eric Williams]

Quote from @Michael Plaks:

Quote from @Eric Williams:

Quote from @Michael Plaks:

Assuming that the child uses this mortgage for business purposes, i.e. buying a rental property - the child has to send Mom form 1099-Int if the annual interest on this loan is above $600.

 I think it may be lower, if one is willing to entertain an alternative viewpoint:

$10 rule is in Sec. 6049

Sec. 6049 (b) (2)

(2) Exceptions
For purposes of subsection (a), the term “interest” does not include—
(A) interest on any obligation issued by a natural person

 Well there ya go I learned something, gracias.