Unearned income

[Ancient_Mariner]

The bank sent me a refund for a closed safety deposit box. They sent four checks instead of one and said they are honoring the other three checks as well. How do I enter the unearned income in Turbo Tax Deluxe 2021?

[drsluggo]

Unless you took the safe deposit box fee as a deduction/business expense you do not have to declare the refunded amount as income.

[rjs]

You can report it as "other income" on Schedule 1 line 8z with a description that you enter. Here's how to enter it in TurboTax.

• In the Search box in TurboTax type "lawsuit settlement" (without the quotes), then click the link that says "Jump to lawsuit settlement." I know that's not what the income was from, but it's the only search term I could find that gets you to the right place.
• The first screen asks, "Any Other Taxable Income?" Click Yes.
• On the next screen, "Other Taxable Income," enter a short description such as "Excess refund" and enter the amount. Click Continue.
• On the next screen click Done.
• You will get a couple more screens with unrelated questions. If they don't apply to you, just answer No and click Continue.