How do I enter a Mortgage Interest Refund from a form 1098 Box 4?

TurboTax does not give the option to fill in an amount for box 4 in the Deductions and Credits "Your Home" section. The back story is my mortgage company had to refund me $3000 in interest as part of a HARP class action settlement. And now for 2016 they have issued me two 1098 - one with the interest I paid and one with only the refund (in box 4)

3625

1 Best answer

Employee Tax Expert

May 31, 2019 11:36:48 PM

If the refunded amount in Box 4 is attributable to a prior year that you took an itemized deduction for, then it is included in income for 2016.

To report in income for this year:

Select Federal Taxes
Wages & Income
Scroll to Less Common Income
Select Miscellaneous Income (last item), start
Then select Reimbursed deductions from a prior year

See attachment.

Employee Tax Expert

May 31, 2019 11:36:48 PM

If the refunded amount in Box 4 is attributable to a prior year that you took an itemized deduction for, then it is included in income for 2016.

To report in income for this year:

Select Federal Taxes
Wages & Income
Scroll to Less Common Income
Select Miscellaneous Income (last item), start
Then select Reimbursed deductions from a prior year

See attachment.

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How do I enter a Mortgage Interest Refund from a form 1098 Box 4?