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dbotti99
New Member

I have a 1098 with information in box 4 but there is no where in turbotax to enter box 4. What do I do?

 
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4 Replies
Carl
Level 15

I have a 1098 with information in box 4 but there is no where in turbotax to enter box 4. What do I do?

What kind of 1098? 1098-Mortgage Interest Statement? 1098-T? 1098-E? All of those have a box 4.

 

dbotti99
New Member

I have a 1098 with information in box 4 but there is no where in turbotax to enter box 4. What do I do?

Its on my 1098 Mortgage Interest. I had interest returned to me.  When I go to the section in turbotax though to enter a 1098 it goes from Box 3 to Box 5 and I can't figure out how to add Box 4. 

hatterasparky
Returning Member

I have a 1098 with information in box 4 but there is no where in turbotax to enter box 4. What do I do?

My 1098 is a Mortgage Interest statement refund of overpaid interest, Box 4

RaifH
Expert Alumni

I have a 1098 with information in box 4 but there is no where in turbotax to enter box 4. What do I do?

Box 4 is a repayment of Mortgage Interest that you had paid in the prior year. If you selected Itemized Deductions in 2020, then you claimed the interest as a tax deduction in 2020 and will have to claim the amount in Box 4 of your 1098 as income. If you took the standard deduction in 2020, then you did not derive any tax benefit from the excess mortgage interest that they repaid to you in 2021 and do not have to do anything with the number.

 

To report your Box 4 amount only if you itemized deductions in 2020:

  1. In the Federal section of your taxes, under Income and Expenses, scroll down to Less Common Income
  2. Click Start/Revisit next to Miscellaneous Income, 1099-A, 1099-C.
  3. Click Start/Revisit next to Reimbursed deductions from a prior year.
  4. Click the box next to Other Itemized Deductions.
  5. Enter the amount from Box 4 of your 1098 as Other Reimbursements for Prior Year Itemized Deductions.

 

 

@hatterasparky

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