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posted Jun 3, 2019 1:37:39 PM

I recieved a 1099 misc for a mortgage note refund, how is that extra income

I not sure why this is extra income. we refinanced our home, we made the last payment to previous lender, but when current lender paid off loan, our last payment to previous lender was sent back. That money is accounted for on our W2s, correct?

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1 Best answer
Expert Alumni
Jun 3, 2019 1:37:40 PM

This payment does not constitute income. It is just the return of a payment made in error.

You do not need to report it, even if you received a form 1099-MISc from your lender.

1 Replies
Expert Alumni
Jun 3, 2019 1:37:40 PM

This payment does not constitute income. It is just the return of a payment made in error.

You do not need to report it, even if you received a form 1099-MISc from your lender.