Yes, this is the result of an SCRA audit the bank did. I assume it was for many years, perhaps over the course of how long I have had the accounts open. It applies to my personal banking, most likely just to my various credit cards as the fees and interest rates are capped by the SCRA. The bank confirmed for me that this money was a "refund" and not any forgiveness of loans or interest. I asked them for a copy of the audit showing the details of the audit.
Just to be clear, you are saying enter the 1099-MISC as INCOME and then enter a second 1099-MISC for the same amount essentially as "negative" INCOME to zero it out?
There is not away to put in the 1099 and indicate that it is non-taxable?
Is there some tax rule or documentation that shows that SCRA refunds are not taxable that I can keep for my records?
Thank you for your quick reply.
Jason Lerner
