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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4022
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I need to speak with an accountant, Florida, Yes, Yes. My

Customer Question

I need to speak with an accountant
JA: What state are you in? It matters because laws vary by location.
Customer: Florida
JA: Has anything been filed or reported?
Customer: Yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: Yes. My question relates to rental income that I didn't file in 2015 (I was planning to file an amendment). I am trying to qualify for a mortgage and I can't because I didn't file the income in 2015 returns (they are counting the mortagage payment against my debt to income ration). I am trying to figure out what to do in order to fix the mistake I made and qualify for my mortgage
Submitted: 10 days ago.
Category: Tax
Expert:  PDtax replied 10 days ago.

Hi from Just Answer. I'mCustomer and can assist.

Expert:  PDtax replied 10 days ago.

Best is to prepare the amendment (1040X - on paper) and keep a copy for your mortgage lender. The lender will be able to see the mortgage interest you want to report, and use the income as a qualifying factor.

Send it to IRS, certified mail, with a return receipt. The green receipt will serve as proof that IRS has the return, as many lenders are using IRS filed returns, not just the copy you might provide) to support your application. Since mailing your return in will take some time for IRS to receive and process, you can prove IRS has it, and that should remove that potential holdup.

Thanks for asking at Just Answer. Please rate my assistance if I have answered your questions, or ask any follow up you need. Positive feedback is appreciated. I'mCustomer