turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about One Big Beautiful Bill (OBBBA) on Jan 14! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

virginia1
New Member

See if I need to file an amended return of Federal 1040 already efiled. I forgot to enter from 1098 ecrow refund of $183.00.

What line on the amended return do I enter the refund of $183.00. I may have to do a amended return to the state of Idaho. Please inform me asap.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
KrisD
Intuit Alumni

See if I need to file an amended return of Federal 1040 already efiled. I forgot to enter from 1098 ecrow refund of $183.00.

If you received a "refund" of your escrow account, that would not be reported on your tax return and it would not be taxable.

If I understand your situation, your lender has an escrow account that they hold for taxes and/or insurance payments.

The lender "estimates" what you should pay each month, and at times they estimate too high, which means you get some of your funds back. If this is the case, these funds were never used for a credit, so they are not considered income or taxable.

This situation would not warrant filing an amended return.

View solution in original post

1 Reply
KrisD
Intuit Alumni

See if I need to file an amended return of Federal 1040 already efiled. I forgot to enter from 1098 ecrow refund of $183.00.

If you received a "refund" of your escrow account, that would not be reported on your tax return and it would not be taxable.

If I understand your situation, your lender has an escrow account that they hold for taxes and/or insurance payments.

The lender "estimates" what you should pay each month, and at times they estimate too high, which means you get some of your funds back. If this is the case, these funds were never used for a credit, so they are not considered income or taxable.

This situation would not warrant filing an amended return.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question