How do I show proof of interest income w/o a 1099 to a mortgage broker?
Posted in Other - Taxes on 08/26/2010 03:57 pm by admin
npboutros asked:
I made a few thousand dolars online with companies based out of the country. Legitamate profits that are now sitting in my bank of america account. I am trying to qualify for a mortgage loan and I need to show more income. How do I show my monthly income from sources outside the country? What documentation do I need? these companies do not send out 1099 to the american government.
Annie
I made a few thousand dolars online with companies based out of the country. Legitamate profits that are now sitting in my bank of america account. I am trying to qualify for a mortgage loan and I need to show more income. How do I show my monthly income from sources outside the country? What documentation do I need? these companies do not send out 1099 to the american government.
Annie
08/27/2010 at 9:47 am
Gladys
If you can’t show it on a 1099 or on your tax returns, it is not counted as legit income. Report it to the government on your tax returns and you can show your tax returns to the lender.
08/28/2010 at 2:02 pm
Robin
Show it reported on your income tax return. If you did not report it, then NOT ONLY are you out of luck with the mortgage broker, but you are ALSO committing tax evasion. Just because you were not sent a 1099 DOES NOT mean that you do not have to report it. Sorry, but you cannot have the benefits of unclaimed, untaxes, and undocumented income without having consequences or taxes.