Understand when Business Income can be used as Qualifying Income. Learn how Business Income from K-1's (1120S and 1065) flow onto the Personal Tax Returns. Learn how to use Fannie Mae's Cash Flow Analysis form.Learning Objectives: Calculate income for Fannie Mae for Partnerships and S-Corporations, including K-1 income.
Recommended Prerequisites: Self-Employed Borrower: Case Study Form 1084 Part I - Personal Tax Returns
Recommended Audience: Mortgage Professional, Loan Officer, Loan Processor, Underwriter