If you did not itemize (take mortgage interest deduction) for the tax year 2007, you would do nothing as it does not need to be reported.
If you did itemize and included the mortgage interest deduction in 2007, then this would be included as Other Income.
To enter Other Income, please follow the steps below:
- Open your return.
- Click on Federal Taxes.
- Go to Wages & Income
- Scroll to the bottom under Less Common Income select Start (or Update) for Miscellaneous Income.
- Choose the appropriate category and enter your Other Income
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