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bigdog59
New Member

How do I enter a Mortgage Interest Refund from a form 1098 Box 4?

TurboTax does not give the option to fill in an amount for box 4 in the Deductions and Credits "Your Home" section.  The back story is my mortgage company had to refund me $3000 in interest as part of a HARP class action settlement.  And now for 2016 they have issued me two 1098 - one with the interest I paid and one with only the refund (in box 4)

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1 Best answer

Accepted Solutions
PaulaM
Expert Alumni

How do I enter a Mortgage Interest Refund from a form 1098 Box 4?

If the refunded amount in Box 4 is attributable to a prior year that you took an itemized deduction for, then it is included in income for 2016.

To report in income for this year:

  • Select Federal Taxes
  • Wages & Income
  • Scroll to Less Common Income
  • Select Miscellaneous Income (last item), start
  • Then select Reimbursed deductions from a prior year

See attachment.

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1 Reply
PaulaM
Expert Alumni

How do I enter a Mortgage Interest Refund from a form 1098 Box 4?

If the refunded amount in Box 4 is attributable to a prior year that you took an itemized deduction for, then it is included in income for 2016.

To report in income for this year:

  • Select Federal Taxes
  • Wages & Income
  • Scroll to Less Common Income
  • Select Miscellaneous Income (last item), start
  • Then select Reimbursed deductions from a prior year

See attachment.

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