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Question about trust fund income?

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Member

Question about trust fund income?

I have our company stock in a irrevocable trust. Since we have been paying dividends can I count that as income on loan applications. They amount has been around 300k a year pre tax.  

 

Thanks in advance. 

Ex 718 TransUnion 714 Eq. 705 utilization 22%
Cards: Delta Platinum 5k; Chase Sapphire Reserve 11k; capitalOne platinum 10k; CapitalOne Venture One 16k; World of Hyatt 12.5k.
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2 REPLIES 2
Regular Contributor

Re: Question about trust fund income?

I could be wrong, but I believe if you get the dividends in cash you can count it, if it is automatically reinvested, it might be problematic. But I think since it is taxable it should be counted.

Message 2 of 3
Established Member

Re: Question about trust fund income?

Certainly not an expert,  I am sure you can count as past income.  Where it could get a little questionable is future income.  A loan officer is interested mainly in your future income as that is what you are using to pay the loan.  Dividends are not necessarily guaranteed income.  However, if you have enough of a history in receiving them,  it may be used.

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