topic Refund of overpaid interest box 4 of my mortgage interest statement from wells fargo form 1098 in Deductions & credits

Refund of overpaid interest box 4 of my mortgage interest statement from wells fargo form 1098

tombender — Sat, 01 Jun 2019 02:23:46 GMT

Where do I report the refund of overpaid interest listed in box 4 of my 1098??

If the 1098 interview does not ask about mortgage interes...

KenH1 — Sat, 01 Jun 2019 02:23:48 GMT

If the 1098 interview does not ask about mortgage interest refunds, do this:

Go to Federal Taxes > Income & Expenses > Interest & Dividends > Show More

Start a new 1099-INT and select Type it in Yourself (instead if the brokerage import)

Enter the lender and the amount of mortgage interest refunded in these two boxes.

This will report the mortgage interest refund as interest income.

Hope this helps.

I'm not clear on this. I have a 1098 with a Box 4 Refund...

Stevo2 — Sat, 01 Jun 2019 02:23:50 GMT

I'm not clear on this. I have a 1098 with a Box 4 Refund of Overpaid Interest amount. Are you saying I should input this as a 1099-INT? Thanks!

Yes. This is preferable to simply reducing the box 1 amo...

KenH1 — Sat, 01 Jun 2019 02:23:50 GMT

Yes. This is preferable to simply reducing the box 1 amount by the box 4 amount, since box 4 likely appears as interest income in IRS systems.

There seem to be many different answers to this question...

jeffer4jp — Sat, 01 Jun 2019 02:23:54 GMT

There seem to be many different answers to this question from Turbotax folks. What is the correct way to enter box 4 from a 1098 which is a refund of overpaid interest?

Re: There seem to be many different answers to this question...

tk2 — Tue, 15 Mar 2022 01:39:07 GMT

I'm wondering if there is a better fix than entering a 1099-INT form.

Re: There seem to be many different answers to this question...

KrisD15 — Tue, 15 Mar 2022 01:50:31 GMT

To clarify,

Is this in regard to a military member?