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Income Tax Return for Real Estate Investment Trusts for Calendar Year or Tax Year Beginning , , Ending , 20 OMB No  Form

Income Tax Return for Real Estate Investment Trusts for Calendar Year or Tax Year Beginning , , Ending , 20 OMB No Form

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Instructions and help about Income Tax Return For Real Estate Investment Trusts For Calendar Year Or Tax Year Beginning , , Ending , 20 OMB No

hey Brandon I was told I need 2 years of tax returns to qualify for a mortgage because I'm self-employed is that true well that's true and it's not true and let me show you why check this out if you're getting a conventional mortgage and you've been in business for under 5 years then you will need two years of tax returns and what's going to happen is a lender is going to average the last two years so in that case it's 23 and 22 let's just say you made 100,000 in 2023 you made 50,000 in 2022 these two together would be 150,000 divided by 2 years is75 $5,000 now if you're getting a conventional mortgage and you've been in business over 5 years you actually only need one year of tax returns so in that case it would be 2023 we said that's $100,000 so that number would carry down 100,000 divided by 1 is still 100,000 this would be $25,000 difference between the two that means you have $25,000 extra inco

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