Tax Returns for Underwriting

[Carkam]

Do I need to submit state and local tax returns for the past three years as part of my paperwork for mortgage approval?

[Anonymous]

You only need the past 2 years. Might just be the last year if you aren't self employed.

[Carkam]

Thanks for responding .So I do have to submit fed taxes as well as state and local returns for two years?

[Anonymous]

When in doubt send it all

[Anonymous]

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@Carkam wrote:

Thanks for responding .So I do have to submit fed taxes as well as state and local returns for two years?

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State taxes?  What are those? (I love my state) Local income tax?!?  I'd move...

[_NERD]

My lender only requested the past two year's federal returns.

[GirlMelanie89]

My lender requester the past 3 year's returns and W-2s, but that may have been due to my income including a yearly bonus.

[Anonymous]

I only supplied my lender with my W-2's for the past two years. They then requested a tax transcript to confirm the amounts with the federal government only, didn't seem too concerned with state taxes. They ran a heck to make sure I didn't owe back taxes and confirm the property wouldn't be subject to a tax lien if purchased as well.

[Anonymous]

You should only need the last 2 years federal returns.  That should be the only returns they get transcripts for to verify them.  

[Anonymous]

2 years of federal returns. Some down payment assistance programs require 3 years.