Agency Non Taxable Calculator - Patriot Pacific MLO

Agency Non-Taxable Gross Up Calculator

Client Information:

Name:

Loan Number:

Only 1 client on the return receiving SS or Pension income - Please fill in all fields highlighted in blue

1. Current yearly gross SSI or Pension income

2. Income from line 5a (for SS) line 4a (for Pension) off 1040

3. Income from line 5b (for SS) line 4b (for Pension) off 1040

4. Percentage of SSI or pension that can be grossed up iPercentage of income that can be grossed up by 25%

00,00.00

5. Monthly grossed up income iGrossed monthly income used to qualify

00,00.00

Multiple client's on the return are getting SS or Pension income - Please fill in all fields highlighted in blue

A. Income from line 5a (for SS) line 4a (for Pension) off 1040

B. Current yearly gross income

C. amount on our client's 1099 (or current monthly amount X 12)
divided by Total SS or Pension received by all people on return.i% of SS received by our client off the return

00,00.00

1. Income from line 5a (for SS) line 4a (for Pension) off 1040

2. Income from line 5b (for SS) line 4b (for Pension) off 1040

3. Do the math above (this is the non-taxable portion of the SS or Pension income) iNon-taxable SS income

4. Non-taxable SS or Pension times the % of SS or Pension received by our client (Above calculation from line C) iOur client's non taxable SS

5. Non-taxable SS or Pension income times 1.25 iGrossed up portion of SS income

6. SS or Pension income off client's 1099 less Non taxable portion of SS or Pension income (line 4) iOur client's taxable SS

7. Grossed up portion plus our client's taxable SS or Pension (line 5 + line 6) iAnnual SS income

8. New annual SS or Pension amount divided by 12 iThis is the month SS income