Self-Employed Income Worksheet Cash Flow Analysis (Form 1084)
The following self-employed income analysis worksheet generally apply to individuals who have 25% or greater interest in a business, or who are employed by family members, or who are paid commissions, or who own rental property, and/or who receive variable income, have earnings reported on IRS Form 1099, or income that cannot otherwise be verified by an independent and knowable source.
Qualifying Income: YTD + Previous Year Average
Note:
W-2 income will count in the S-Corp/Corporations tabs, associated with their businesses.
Schedule B - Interest and Dividend Income
Schedule B Qualification Calculations
Previous Two-Year (2018 & 2019) Average
Schedule C - Profit or Loss From Sole Proprietorship
There are no Schedule C calculations
Schedule D - Capital Gains and Losses
Schedule D Qualification Calculations
Previous Two-Year (2019) Average
Form 4797 - Sales of Business Property
Form 4797 Qualification Calculations
Previous Two-Year (2018 & 2019) Average
Schedule E - Supplemental Income and Losses
To calculate rental income/loss, use the "Rental Income" worksheet
1040 Qualification Calculations
Previous Two-Year (2019) Average
Schedule F - Profit or Loss From Farming
There are no Schedule F calculations
Form 1065 - Partnership Income Totals
There are no Partnership calculations
Form 1120S - S-Corp Income Totals
There are no S-Corp calculations
Form 1120 - Corporation Income Totals
There are no Corporation calculations
There are no Corporation calculations
Total Qualifying Self-Employment Income:
Year-to-Date income from profit and loss statements may only be considered if it is consistent with the previous years' earnings. Allowable addbacks include depreciation, depletion, and other non-cash expenses as identified above.
YTD PROFIT & LOSS STATEMENT