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

[tombender]

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

[KenH1 · Accepted solution]

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.

[Stevo2]

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!

[KenH1]

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.

[jeffer4jp]

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?

[tk2]

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

[KrisD15]

To clarify,

Is this in regard to a military member?