I am going to try for a FHA mortage early in 2013 and I am self-employed. I will have the following (2) year averages for income on my 1040
2011.. $23,100 with an AGI of $18,468
only deductions are $1632 for half of my self-employment tax and a $3000 capital gains loss carryover
2012... $50,400 with an AGI of $44,144
only deductions are $3560 for half of my self-employment tax and a $3000 capital gains loss carryover
(2) year average of $36,750 but only $31,306 AGI
I thought I read somewhere that they can add back in certain deductions. These are deductions that I have to take. Can they add these back in? I really need the extra $5000 in income for DTI
Thanks in advance if anybody has an idea.
