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

ekellis17 · ‎June 3, 2019

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?

MinhT · ‎June 3, 2019

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

MinhT · ‎June 3, 2019

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

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