Self-Employed Income (1084)

Use the Self-Employed Income Analysis form to summarize self-employment income obtained from a borrower's federal income tax return, and to determine the monthly average income that will be used to qualify the borrower.

Obtain copies of the borrower's last two federal income tax returns before you begin work on the form.

To Complete the Self-Employed Income Form:

  1. For each section, use the referenced federal income tax form (for example Form 1040) to find and add the required information for the past two tax years.

  2. When finished, manually transfer the total income figures to the loan application as applicable.