Let me understand what you did. You sold a piece of equipment to a company, who agreed to pay you interest then principal. The company paid you some interest payments, then paid the note off. I am assuming this was all done in 2012.
I assume also you are not an equipment dealer nor a regular lender. I also don't know how much interest income you earned.
IRS would normally require you as the lender to issue a 1099-INT
to the company for the interest they paid, and send a copy off to IRS. You didn't. You also didn't report the interest income.
Since you are not in the business of lending or financing, you need not file Form
1099-INT. That would normally be your burden
You should report the interest income on your tax return, even if you have to amend. Some people choose not to if the amount of extra tax due to the government
is not a lot, but that is your call.
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