Income Calculations Worksheet

Pay Type
Hourly
 
Per Hour
   hours
X52/12
$0.00
Income
$
YTD Earnings
months
$0.00
Income
$
W2 for Tax Year:
months
$0.00
Income
$
W2 for Tax Year:
months
$0.00
Income
$0.00
$0.00
$0.00
$0.00
$0.00 Use lowest income
or check the income you wish to use
$0.00
Salary
$
X1 =
$0.00
Income
$
X26/12 =
$0.00
Income
$
X24/12 =
$0.00
Income
$
X52/12 =
$0.00
Income
$
months
$0.00
Monthly Avg
$
months
$0.00
Income
$
months
$0.00
Income
$0.00 Base Used to Qualify
check the salary you wish to use
Overtime/Bonus
YTD Overtime / Bonus*
$
months
$0.00
Income
Past year OT breakout
$
months
$0.00
Income
Additional year OT / Bonus
$
months
$0.00
Income
$0.00
$0.00
$0.00

*If DU requires only a YTD paystub, OT/Bonus must be annualized. Divide YTD OT/Bonus by 12 months; for qualifying purposes, typically a two year history of receipt is required.

$0.00 Use lower of calculations
or check the income you wish to use
$0.00
Commission
$
YTD Commission 		*minus Expenses
$0.00
expenses (based upon 2106 expenses)
$
Past year commission 		*minus Expenses
$
2106 Expenses
$
Additional year commission 		*minus Expenses
$
2106 expenses
$0.00
= Net income
months
$0.00
monthly income
$0.00
= Net income
months
$0.00
monthly income
$0.00
= Net income
months
$0.00
monthly income
$0.00
$0.00
$0.00

2106 YTD Expense Estimate
2 year Commission Vs 2106 Expenses

$0.00
$0.00
$0.00
$0.00 Use lower of calculations
or check the income you wish to use
$0.00
Other Income
$
YTD income
months
$0.00
income
$
W2 for year:
months
$0.00
income
$
W2 for year:
months
$0.00
income
$0.00
$0.00
$0.00
$0.22 Use lower of calculations
or check the income you wish to use
$0.25
Potential Non Taxable Income Social Security: Retirement/Disability/Survivor/Supplement Specify:
With Documentation Without Taxation Documentation: Freddie Mac Only
Annual Benefit
$
$
Total Annual Benefit
Taxable Portion
$
x 100%
$0.00
$0.00
Annual Benefit x 85%
Non-Taxable
$0.00
x 125%
$0.00
$0.00
Annual Benefit x 15%
# months
$
Total Income
$0.00
$0.00
Gross up 25%
Total Monthly Income
$0.00
$0.00
Total Gross up
M
# months
$0.00
Total Monthly Income
Potential Non Taxable Income Other: IRA, Pension, Child Support Specify:
With Documentation
Annual Benefit
$
Taxable Portion
$
x 100%
$0.00
Non-Taxable
$0.00
x 125%
$0.00
# months
M
Total Income
$0.00
Total Monthly Income
$0.00
$0.00