2 Year tax returns, will this work?

[LikeMike]

Whats up Fico Forums!

I just going to cut straight to the point here.

2014: 30k from W2 income & 40k from 1099-B = 70k income for the year

2015: 30k from W2 income & 60k from 1099-B = 90k income for the year.

1) Will the underwriters accept 1099-B's as income? I see 1099 i don't know if they treat all 1099's the same.

2) If yes to question #1, which amount will the underwriters accept as my income to base the debt to income ratio for me? 70k or the 90k or just average it out to 80k?

*I'm purposely making my 1099-B income go up every year to show its trending up*

Thanks,

-Mike

[srhslev]

I am not a mortgage expert at all, but aren't 1099-B from stock proceeds? On your tax returns do you include the cost basis and determine capital gains/losses? I would think that the lender would need your returns for that info and not just the 1099-B, unless the income you shared was including the cost basis. 

[Mrs_hambright]

Why are your looking into 2014 & 2015? I believe Lenders will require 2013 & 2012 right now.

[FatMike]

The site locked me out so I had to make a new username.

The reason I'm using 2014 and 2015 is I need two years of tax returns with good income. I just want to know if a 1099-B is accepted for income on a mortgage loan or if I'm just wasting my time. And if it is, what income of the two years will they use to calculate my Debt-to-income ratio?

Thanks